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.
NCDEX soybean hits 3% upper cap on millers’ demand
Soybean contracts on the NCDEX hit the 3% upper circuit because of demand from oil millers. The most active February futures were up 2.9%. Gains in soybean contracts on the CBOT are also seen supporting domestic prices of the oilseed.
Mustard seed prices down in Jaipur on weak demand.
Prices of mustard seed were down in Jaipur because of weak demand from domestic oil millers and crushers. The arrivals in Rajasthan, however, were unchanged. On NCDEX, the most-active April contract of the oilseed was down 1 rupee from the previous close.