International Spice Commodities Update – Coriander

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Good demand from local spice firms and  stockiests supported prices.  Total coriander arrivals in the key markets of Rajasthan were around 18000 bags (1 bag = 40 kg), up from 11000 bags on Saturday.  The  spice traded higher compared to previous day at around Rs.4300 ($87.60, €65.11, £55.21) per 100kg in Kota.

Reports on fall in acreage in major growing areas are further supporting coriander futures. Coriander acreage in Andhra Pradesh was at 8870 hectares, down by 48 percent compared with same period last year. Mainly dry weather prevailed in the state during last week.

Outlook for the day is positive. NCDEX March contract can test the resistance of Rs.4600 ($93.71, €69.66, £59.06) with support being at Rs.4350 ($88.62, €65.87, £55.85). per quintal (per 100kg).

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