NCDEX coriander up on short covering post 5-wk low.

Futures contracts of coriander on the NCDEX gained over 1% because investors covered their short positions after prices hit a five-week low. Total arrivals in Kota and Ramganj were pegged at 4,800 bags (1 bag = 40 kg), down 3,200 bags from the previous day. Current recovery in coriander futures is temporary as prices are expected to trade downwards till next month owing to higher inventories. Major movement in prices is likely from October onwards when sowing of the rabi crop starts.