Coriander Gains On Weak Supplies In Major Mandies

Coriander prices spurted by more than Rs. 100 per quintal in futures market in the wake of strong stockiest demand in major mandies .

As per market sources, poor production in the current season also reduce the stockiest liquidation at lower levels. Most of the states have reported the weak production in the current season on the back of steep decline in sowing acreage coupled with erratic weather situation during the crop formation period. On the basis of that we are currently projecting the total production of 2010-11 is likely at 60-65 lakh bags against 1 crore bags reported last year.

The NCDEX May coriander futures were currently trading at Rs. 5419 per quintal , up Rs. 111 per quintal from the previous close.

(Source: http://www.indiainfoline.com/Markets/News/Coriander-Gains-On-Weak-Supplies-In-Major-Mandies/3657787518)