Coriander

NCDEX coriander down on profit taking post 2-wk high

Prices of coriander rose in the key market of Ramganj, Rajasthan, due to limited supply of good quality new crop harvested this year on the back of lower production. In Kota, the badami variety was sold at 5,200 rupees per 100 kg and the eagle variety was quoted at 5,500 rupees, both up 50-100 rupees from previous close. Coriander futures may continue to rise for the fifth consecutive week and move towards 4,900 rupees per 100 kg due to a decline in arrivals. The most active August contract of coriander on NCDEX was up 0.6%.

Futures contracts of coriander on NCDEX hit a two-week low of 4,611 rupees per 100 kg because of forecast of good progress of the monsoon in Gujarat and Rajasthan. The most-active August contract was down 1.3% at 4,708 rupees per 100 kg. Profit booking in the front-month July contract ahead of expiry on Jul 20 also weighed on coriander futures. The fall in prices, however, is seen restricted at 4,550 rupees per 100 kg, as investors may buy the commodity at lower prices on the back of lower production this year.

Futures contracts of coriander on NCDEX fell over 2%, as investors booked profits ahead of the staggered delivery period. The most-active August contract of coriander on NCDEX was down 2.2% at 4,758 rupees per 100 kg. A fall of 2,370 tn in open interest in the July contract at 6,540 tn indicated profit booking. Prices of coriander also fell in the benchmark market of Kota, Rajasthan, where the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety at 5,300 rupees, both down 100 rupees. Arrivals of coriander in Rajasthan were at 10,000 bags (1 bag = 40 kg), down 1,000 bags from the previous day.

Prices of coriander rose marginally in Kota, Rajasthan, despite higher arrivals, due to improved demand from processors. Processors have stepped up their purchases as coriander prices have fallen around 1,000 rupees per 100 kg since January, when fresh arrivals had started, due to higher carry-over stocks. In Kota, the benchmark market, badami variety was sold at 5,000 rupees per 100 kg and prices of eagle variety were at 5,250 rupees per 100 kg, both up 50-70 rupees. Arrivals of the spice in Rajasthan were pegged at 12,000 bags (1 bag = 40 kg), up 1,500 bags from previous day.

Coriander futures on the NCDEX rose over 1% due to improved demand from stockists at low price levels. The most active July contract of coriander on NCDEX traded at 4,607 rupees per 100 kg, up 1% from the previous close. In Kota, the benchmark market, badami variety was sold at 4,750 rupees per 100 kg and the eagle variety was quoted at 5,050 rupees per 100 kg, both up 30-40 rupees. Arrivals of coriander in Rajasthan were 9,000 bags (1 bag = 40 kg), up 1,000 bags from the previous day

The most-active July contract of coriander hit a three-week high of 4,562 rupees per 100 kg on NCDEX. Lower sowing area current year supports the prices from lower levels in the spot market. Coriander stockists may hold their stocks, expect prices may go up.

The most-active July contract of coriander hit a three-week high of 4,538 rupees per 100 kg on NCDEX, tracking gains in the key spot markets. The July contract was at 4,512 rupees per 100 kg, up 1.14%. Prices of coriander rose in the key market of Ramganj, Rajasthan, due to a fall in arrivals coupled with renewed demand from local buyers. The badami variety was sold at 4,800 rupees per 100 kg and the eagle variety was sold at 4,900 rupees per 100 kg, both up by 50 rupees.

Prices of coriander may rise after falling for eight weeks in a row on the National Commodity and Derivatives Exchange because of an improvement in demand at lower rates. Prices have become more vulnerable than they should be, due to which traders can stock the spice at the lower level.

The futures contracts of coriander were up nearly 2% on the NCDEX as investors bought the commodity. The most active July contract was up 1.7%. Open interest in the contract rose by 170 tn to 35,780 tn indicating bargain buying. In Kota the benchmark market, the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety was sold at 5,100 rupees, both steady from previous close. However, the medium term outlook for coriander remains weak because of low global demand and higher carryover stocks.

Futures contracts of coriander were down on the NCDEX because of weak demand both in domestic and overseas markets. The most active June contract ended down 0.6% at 4,280 rupees per 100 kg. In coming days, prices may fall towards 3,800 rupees per 100 kg due to high inventories and lack of buyers. In the benchmark Kota market, the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety was sold at 5,100 rupees, both steady. The arrivals of coriander in Baran and Kota were pegged down by 1,000 bags.

Futures contracts of coriander on the NCDEX hit a near six-year low of 4,190 rupees per 100 kg due to cheap imports from Ukraine and Russia, and muted domestic demand. The most active June contract was down 2.6%. Prices are likely to make a new low near 4,000-3,800 rupees in the coming days. In Rajasthan’s benchmark market Kota, the badami variety and the eagle variety both steady from previous close.

Coriander prices fell in Kota, Rajasthan due to continued imports at lower prices and subdued local demand. Coriander imports from Russia and Bulgaria are 6-9 rupees per kg cheaper than the local crop even after paying an import duty of 36.5%.

Futures contracts of coriander fell for the 10th consecutive day on NCDEX and hit an over seven-month low of 4,362 rupees per 100 kg due to higher imports from Ukraine and Russia, and muted domestic demand. The most-active June contract was down 3.5%. Instead of buying Indian coriander, exporters are importing it from Ukraine and after processing, they are re-exporting it. Bulgaria is also offering their new crop that was harvested in April at very low prices when compared to India.

Coriander prices fell in Kota, Rajasthan, due to subdued demand from stockists and domestic spices makers. In Kota, the benchmark market for the commodity, the badami variety was sold at 4,750 rupees per 100 kg and the eagle variety was quoted at 5,000 rupees per 100 kg, both down 100 rupees. Good carryover stocks and higher cheaper imports have resulted in lower demand for the domestic crop. Arrivals of coriander, however, were almost steady in Rajasthan. The most active June contract of coriander on NCDEX ended 0.2% lower.

Prices of coriander fell in Ramganj, Rajasthan, today, as cheaper imports continued to weigh on domestic demand for the spice. In Ramganj, the badami variety was sold at 5,200 rupees per 100 kg and the eagle variety at 5,400 rupees per 100 kg, both down 50 rupees.

Prices of coriander fell in the benchmark market of Kota due to higher arrivals and subdued demand from spices makers. The badami variety was sold at 4,750 rupees per 100 kg and the eagle variety at 5,000 rupees, both down 50 rupees from the previous day. Higher carryover stocks, coupled with cheaper imports, continued to weigh on coriander prices despite lower production this year. Arrivals in Rajasthan were up and the most active June contract of coriander on NCDEX was down 0.2%.

Prices of coriander rose in Kota, Rajasthan, due to improved demand from stockists for the crop harvested this year. Farmers have held back new crop in anticipation of a rise in prices and were bringing old crop to the market. Arrivals in Rajasthan were estimated at 13,000 bags (1 bag = 40 kg). Of the total arrivals, around 30% were of the old crop.

The National Commodity & Derivatives Exchange has raised the stockholding limit for coriander to 3,000 tn for additional charges from 1,000 tn earlier. The limit will be applicable from Friday. The move by the exchange is to encourage deposits against the open interest positions of clients.

Futures contracts of coriander on NCDEX extended gains and hit a one-week high of 4,895 rupees per 100 kg because of demand from local stockists. June contract of coriander on NCDEX was up 0.8%. Upside in coriander futures, however, is likely to be capped around 4,920 rupees per 100 kg due to higher inventories.