Last Updated : 27 July 2012 at 09:35 IST
India’s Coriander prices up by 10% on supply shortage, thin arrivals
Source :Commodity Online
Coriander prices in Indian markets increased by 10% for the last few weeks on the back of firm fundamentals prevailed in the markets.
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MUMBAI (Commodity Online): Coriander prices in Indian markets increased by 10% for the last few weeks on the back of firm fundamentals prevailed in the markets.
Coriander prices may rise further in the coming days as the arrivals in the spot markets are declining gradually due to lean season along with tight supply. Also, rise in export demand and production concern due to scanty rainfall may add support to the price gain.
Besides, the general uptrend in agricultural commodities has also supported the bullish trend. In the last few sessions, speculators have entered the complex tipping the scales further towards bullish movement.
In the spot market at Kota, Rajasthan, coriander was traded at Rs 4,531.25 a quintal on Thursday. Analysts said that increased speculators’ activity and rise in export demand may provide further support.
The data released by Spices Board of India showed that India’s coriander exports rose 66.6 percent on year in April to 2600 tonnes. In value terms, the country's coriander exports turn up 65 percent from same period a year ago. Spices Board has projected the country's coriander exports in 2012-13 at 35000 tonnes.
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