MUMBAI (Commoditiescontrol) - During the week, coriander arrivals in Ramgunj, kota and Baran markets stood at 126,000 bags. Ramgunjmandi started receiving an average of 18,000-20,000 bags per day indicating the commencement of peak arrivals.
The demand for new crop has increased due to consecutive decline in production levels. From Tuesday (12th March 2019), the price of badami and Eagle variety witnessed an increase of INR 100-150 per quintal.
Furthermore, the market is expected to witnessed hike in coming days. As the domestic price is estimated to increase in coming days, import of Coriander may increase compared to last season as per the initial estimates.
Coriander futures on NCDEX moved higher to touch as high as INR 6700 per quintal. Strong support is seen in the region of 6240 and 6150 and unlikely to drop further.
Traders may consider accumulating on every dip in the region INR 6350-6300 level as the broader trend is up.
(By Commoditiescontrol Bureau)
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