Coriander

The April contract of coriander on NCDEX hit the 3% lower circuit on expectation of a rise in supply in the coming days. Higher carryover stocks amid subdued demand from overseas buyers also weighed on prices. Carryover stocks are estimated at 8 mln bags (1 bag = 40 kg) compared with 5-6 mln bags in 2015-16.

Prices of coriander rose in Ramganj, a wholesale market due to forecast of unseasonal rains in the largest producer–Rajasthan. India Meteorological Department on Tuesday forecast isolated to scattered rains and thunderstorm over Rajasthan on Friday and Saturday. Lower arrivals in the state also led to gains in coriander.

NCDEX coriander April contract hit one-week high of 5,674 rupees because of forecast of rains in the key growing areas of Rajasthan. The most active April futures were up 1.5%. Coriander in Rajasthan and Gujarat are in harvesting stage and rains during this period is likely to adversely impact the crop.

The April contract of coriander rose nearly 3% on NCDEX as investors covered their short positions after prices hit a five-week low of 5,382 rupees per 100 kg. The contract traded at 5,571 rupees, up 2.6% from the previous close.

Futures contracts of coriander on NCDEX extended losses and hit a five-week low of 5,415 rupees per 100 kg because of increasing pressure of new crop arrivals. The most active April contract of coriander on NCDEX ended at 5,422 rupees per 100 kg, down 1.1% from the previous close. Weak demand from domestic retailers and exporters also weighed on prices.

Prices of coriander rose in Kota due to improved demand amid lower arrivals.Arrivals of coriander in Rajasthan were pegged at 8,000 bags (1 = 40 kg),down 2,000 bags.However, a likely increase in supply of coriander ahead of the peak harvest season may keep prices under pressure in the near term

Prices of coriander fell in Kota, the benchmark market, because of higher arrivals and weak demand for the new crop as it contains high moisture. Moisture content currently in the new crop is quite high than the desired level of 78%.

rices of coriander were unchanged in Kota, the benchmark market, as lower arrivals were offset by poor demand for the spice. Demand for the spice is likely to remain weak in the near term due to higher moisture content in the new crop. The most active April contract of coriander on NCDEX was down 0.2%

Futures contracts of coriander fell marginally on the NCDEX due to a rise in imports of the spice and subdued demand for the new crop because of higher moisture content. The most-active April contract of coriander was down 0.6%.

Futures contracts of coriander fell over 1% on NCDEX due to profit booking. The most-active April contract of coriander on NCDEX was down 1.4% from the previous close. Prices are volatile ahead of start of new crop arrivals in full swing.

NCDEX coriander hits 3% upper cap on bargain buying.

Futures contracts of coriander fell over 1% on NCDEX as investors booked profits. The most-active April contract of coriander on NCDEX was at 5,875 rupees per 100 kg, down 1.2% from the previous close. Prices of coriander are likely to remain steady for the next two weeks as traders are reluctant to purchase the new crop that has high moisture.

Futures contracts of coriander on NCDEX hit the 3% initial upper circuit because investors bought the commodity after prices fell to a one-week low. The most-active April contract of coriander on NCDEX traded at 5,914 rupees per 100 kg, up 2.7% from the previous close. Expectation of lower production in 2017-18 (Oct-Sep) as farmers shifted from coriander to jeera following attractive prices of the latter last year, also supported coriander futures.

Futures contracts of coriander on NCDEX today fell over 2% due to higher carryover stocks from last season and expectations of a rise in arrivals of the new crop from February. The most active April contract of coriander on NCDEX traded at 5,756 rupees per 100 kg, down 2.3% from the previous close. Lower arrivals prevented prices from falling amid anticipation of a rise in supply soon.

Prices of the new coriander crop rose in Kota, the benchmark market, due to higher demand for the fresh harvest. The old crop was sold at steady prices. The most active April contract of coriander on NCDEX was flat at 5,925 rupees per 100 kg.

Futures contracts of coriander on NCDEX were up over 1% due to expectations of lower production this year. Traders see production of coriander falling around 30% on year to 600,000-650,000 tn in the current year as low prices during the sowing season led to a decline in acreage.

Futures contracts of coriander rose over 2% on the NCDEX because of concern over a decline in production in 2017-18 (Oct-Sep), aided by lower arrivals. The most-active April contract traded at 5,940 rupees per 100 kg, up 1.6% from the previous close.

Arrivals of the new coriander crop have started in the spot markets of Rajkot, a key market in Gujarat, since last week, with daily supply at 450-500 bags (1 bag = 40 kg). Arrivals are coming from Gondal and Junagadh regions in Gujarat and there is around 20-25% of moisture content in the new crop. As of now, demand for the new crop is low as moisture content is more than the ideal level of 7-8%. Expect demand to rise in the coming days, when moisture content will decline, adding that prices may then rise to 5,250 rupees a 100 kg.

Futures contracts of coriander hit an eight-month high of 5,848 rupees per 100 kg on the NCDEX as production in the ongoing rabi season is likely to decline. The most-active April contract of coriander was at 5,840 rupees per 100 kg, up 2.3% from the previous close. Low prices during the sowing season made farmers shift to other remunerative crops. Prices of coriander were unavailable in Rajasthan as markets were shut on account of Basant Panchami.

Prices of coriander today rose in marginally in Kota, the benchmark market in Rajasthan, due to a likely lower output in 2017-18 (Oct-Sep). Other key markets–Baran and Ramganj–were closed today due to a protest carried out by Vishva Hindu Parishad.