Recovery was seen in coriander futures from the lower levels on the heels of poor arrivals in major mandies coupled with concerns of weak coriander production in the current year . The NCDEX futures recovered almost Rs 200 per quintal from the lower levels.
Traders mentioned that the total daily arrivals of coriander have reduced to 1700 and 3500 bags at Kota and Ramganj mandi . This was mainly due to strong supplies of wheat in these mandies. While the spot prices were trading in the range of Rs 3900-4100 per quintal at major mandies , up almost Rs 100 per quintal from the last day .
Traders also mentioned that poor rainfall in major coriander producing states such as Rajasthan and Gujarat during the current monsoon season might reduce the overall sowing of coriander crop in the current year.
Consequently, the NCDEX September futures are trading at Rs 4920 per quintal after hitting the intraday low of Rs 4710 per quintal in today's trading.
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