Jeera extends slide as turmeric, coriander strengthen modestly

Jeera extended its decline for a fifth consecutive session on Monday as weak demand and comfortable supplies weighed on prices, while turmeric and coriander strengthened on improved buying. 

Pepper was broadly steady. The August jeera contract fell 1.2% to ₹20,720 per 100 kg on the NCDEX.  

Bulk buyers continued to defer purchases in anticipation of lower prices, while favourable weather in northwest India accelerated harvesting and drying, increasing arrivals. Large spice processors have also remained cautious about replenishing stocks.  

Turmeric recovered 0.5% to ₹20,516 per 100 kg after two sessions of declines, attracting buying after touching ₹19,950 intraday. 

Demand, however, remains subdued domestically and overseas. 

Cumulative exports over the past two months stood at 34,000 tonnes, against 34,162 tonnes previously. 

The NCDEX has raised additional or special margins on turmeric contracts by 7.5% to contain excessive volatility.

Coriander advanced 0.8% to ₹15,278 per 100 kg as festival-related demand improved, although weak exports could restrict the upside despite lower arrivals.

Pepper was little changed at ₹724.9 per kg, slipping 0.1%, as overall activity remained subdued.