Coriander surges on short covering

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Coriander futures edged higher on bargain hunting followed with short covering efforts. Spot prices trade within a range of 4500-4600 and fresh arrivals in Kota were reported near 8000 bags.
Total production of coriander in 2010-11 is estimated about 90 lakh bags and carry over stocks has been estimated 20 lakh bags.
However other trade sources are projecting much lesser production estimates of 60-65 lakh bags due to lower acreage of cultivation.
Erratic weather condition during the sowing period had decreased the acreage under cultivation. Arrivals usually starts from mid of February and extent till may end.
Courtesy: Geojit Comtrade Limited

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Coriander-surges-on-short-covering-12636.html)

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