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WEEKLY Coriander: Gradual Increase In Prices Likely

15 Apr 2019 11:09 am
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MUMBAI (Commoditiescontrol) - In NCDEX, coriander May contract on 08th April 2019 closed at INR 7273 per quintal. On 12th April it closed INR 7254 per quintal, remained almost stable. In NCDEX spot, price witnessed a slight correction by INR 100 per quintal during the week.

Last week range in NCDEX May---7395-7050 and finally settled well above INR 7250, may signal continuation of the current up trend. Expect coriander to move higher towards 7600-7800-8000 sooner than later. Support is seen in the region of 7050 and 6950 and unlikely to drop further.

Coriander arrivals in Kota, Ramgunjmandi and Baran markets during the week stood at 194,000 bags as compared to 113,500 bags in the previous week.

In Physical market, the price of Badami and Eagle variety witnessed a slight correction by INR 100-150 per quintal. In coming days, the prices are expected to move up gradually.

Like cumin, export peak season for coriander is March to May.

(By Commoditiescontrol Bureau)


       
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