NCDEX coriander down over 2% as supply seen rising.

NCDEX coriander down over 2% as supply seen rising. Futures contracts of coriander on the NCDEX fell over 2% as arrivals of the spice are expected to rise in spot markets in coming days. The most-active October contract ended at 5,115 rupees per 100 kg, down 2.3% from the previous close. Around 4,470 tn of coriander has been marked for compulsory delivery under the staggered delivery mechanism in the September contract. This is likely to lead to a rise in supply. Consolidation can be seen in coriander futures (October) in the range of 5,190-5,300 (rupees a 100 kg) levels. Apart from sufficient production, imports have led to huge carryover stocks.