Weekly: Coriander Prices Likely To Remain Firm On Export Buying

MUMBAI (Commoditiescontrol) - Coriander prices were range-bound both at spot and futures market on limited buying support.

The arrivals also remained sluggish at major production centres. In Rajasthan coriander farmers were busy in harvesting their wheat leading to slow down in arrivals of coriander.

Corriander prices are likely to trade firm due to export buying as exporters will turn busy to cover their forward commitments. Overseas market demand is anticipated to pick up momentum given the possible crop reduction in key coriander growing regions of Russia and Bulgaria.

New coriander crop from Russia will start coming to the markets from the month of July.

Apart from exporters, there was fresh buying interest from domestic consumers as well as stockists. At the current levels imports cannot substitute domestic produce having said that the imports of coriander would be close to INR 7500- 7700 per 100kg making imports unviable.

Arrivals of coriander last week at major markets of Kota, Ramgunj and Baran stood at 52,500 bags. Price ranged from INR 61-66 per kg (Badami) and Eagle INR 64-68 per kg.

(By Commoditiescontrol Bureau)