NCDEX coriander at 6-month low on high carryover stock

Futures contracts of coriander hit a six-month low of 4,768 rupees a 100 kg on NCDEX due to a record-high carryover stocks of 3.5 mln bags (1 bag = 40 kg). There is around 1.5-2.0 mln bags of excess coriander in market from the total stock of 10.5-11.0 mln bags which will keep prices under pressure until August. On NCDEX, the most-active May contract was at 4,785 rupees per 100 kg, down 2% from previous settlement.

Coriander in Kota dn on low demand; may fall further

Prices of coriander fell in Kota, Rajasthan due to subdued demand from stockists. Prices are seen declining further as arrivals may rise next week onwards. Arrivals of coriander in Rajasthan are lower than normal for the last two weeks as farmers are busy due to the ongoing marriage season.

Russia rapeseed crushing up 23% on the year

Rape oil production gained 23% in MY 2017/18 (July-February), reaching 258.9 KMT versus 210.3 KMT a year ago. 32.4 KMT of rape oil was produced in Russia in February 2018 versus 30 KMT in the previous month and 22 KMT in February 2017. Monthly production volumes of rape oil have steadily been up year-on-year since the beginning of MY 2017/18, expect for a minor downturn in January. The same trends are seen in rapeseed crushing in Ukraine. Rape oil production is high up 25.7% in the first eight months of the 2017/18 season compared to the previous one. In July-February Ukrainian oil and fat industry produces 81.0 KMT of rape oil against 64.5 KMT a year ago due to more active crushing of rapeseed in August-September 2017.