NCDEX coriander remains higher on short covering


MUMBAI (Commodity Online): Coriander futures rose Tuesday as traders created fresh positions on the back of rising demand in the domestic markets.

At NCDEX coriander December contract is trading at Rs.4112 per quintal, higher by 1.03 per cent on 15:35 IST against the previous close.

In the morning session the contract traded at a range of Rs.4075-4140 per quintal. Open interest of the contract is 16170 lots and volume traded is 3390 lots for the time being.

Trend for the spice continues to remain weak due to good sowing prospects in the ongoing rabi season and slack demand. Coriander arrivals in Rajasthan markets were around 2800 bags, up from 2100 bags last day. The price declined to Rs.4200 per 100 kg in Kota mandi.

Data released by the State Agriculture Department showed that coriander acreage in Andhra Pradesh as of last week was 4000 ha as against 3800 ha from same period a year ago. Reports of higher stocks in warehouses may also add to the bearish trend.



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