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Spot Coriander Rules Steady; Futures Up Over 2%

17 Feb 2017 5:04 pm
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MUMBAI (Commoditiescontrol) - Coriander traded steady in spot markets of Rajasthan and Madhya Pradesh on Friday, whereas futures market posted decent gain.

Activity in the spot market was said to be good today as buyers turned active tracking bullish coriander futures. The most active April coriander contract gained 2.68 percent, or Rs 181 at Rs 6,941/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX). The contract so far traded within range of Rs 6,786 to Rs 6,982.

Supply of coriander is expected to improve from new crop, however sellers may sell their stocks gradually due to lower rates, said a trader from Kota.

Coriander crop is likely to be slightly better as lower acreage in Rajasthan likely to be offset by record sowing in Gujarat.

Coriander is likely to perform sluggish in the near term (15-30 days), and thereafter trend is likely to dependent on exports.

Coriander exports so far this fiscal was very badly hurt as Russia capture large market share from India due to better production and very competitive rates. Even India buyers has contracted heavily as it was available at much cheaper rates, he added.

Coriander imports during April-November gained sharply by 330 percent at 36,955 metric tonnes against 8,594 metric tonnes same period a year ago, according to commerce ministry.

India imports around 26,221 metric tonnes of coriander between April to November from Russia. The other main destinations were Ukraine (4,720) and Italy (3,964).

MARKET VARIETY MIN MAX
GUNA BADAMI 5700 5900
GUNA SCOOTER 6300 6400
GUNA EAGLE 6000 6200
ARRIVAL   2000 2000
KOTA BADAMI 5600 5800
KOTA EAGLE 5900 6000
ARRIVAL   3500 3500
RAMGANJ EAGLE 6000 6200
RAMGANJ BADAMI 5800 5900
ARRIVAL   14000 14000
BARAN EAGLE 5600 5800
BARAN BADAMI 5900 6000
ARRIVAL   3000 3000
Rates In Rs/100Kg | Arrivals In 35Kg Bag

(By Commoditiescontrol Bureau; +91-22-40015533)


       
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