RESEARCH VIA ~ TODAY'S COMMODITY UPDATES - NCDEX TIPS 25/10/2013

Agro Outlook

D A I L Y

B U Z Z

Coriander prices moved up by 0.71 per cent to Rs 6,958 per quintal in futures trade today on pick up in demand in the spot market against tight supplies on limited arrivals from producing regions.

At the National Commodity and Derivative Exchange, coriander for delivery in December moved up by Rs 49, or 0.71 per cent, to Rs 6,958 per quintal with an open interest of 7,320 lots.

Similarly, the spice for delivery in November traded higher by Rs 37, or 0.55 per cent, to Rs 6,775 per quintal in 20,440 lots.

Market analysts said besides pick up in demand in the spot market, tight supplies following less arrivals from producing regions also influenced coriander prices at futures trade.

Jeera futures hit a contract low on Thursday due to hopes of a greater area under cultivation, higher than-expected spot supplies and stocks from the old crop.

At 0934 GMT, the actively traded jeera contract for November delivery was down 0.14 per cent at Rs 12,610 per 100 kg on the National Commodity and Derivatives Exchange, (NCDEX) after hitting a contract low of 12,525 rupees earlier. It has fallen more than 13 percent between September 3 and October 23. The most-actively traded turmeric contract for November delivery was down 0.78 per cent at Rs 4,864 per 100 kg on the NCDEX.

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