NCDEX to launch coriander seed futures tomorrow

National Commodity & Derivatives Exchange (NCDEX) will launch futures trading in coriander seed tomorrow, a top exchange official said.        

The Forward Markets Commission (FMC) Chairman, B C Khatua will launch coriander futures contract on Monday, NCDEX Managing Director and CEO R Ramaseshan said here.        

Coriander seed would be the fifth spice to be launched on the exchange. Other spices listed on the exchange include jeera, pepper, turmeric and chilli.        

The coriander futures will initially have contracts for the month of October, December and April.        

Members will have a position limit of 3,000 tonne while clients will have 1,000 tonne for all contracts, exchange officials said adding that the main delivery centre will be Kota in Rajasthan.        

Multi Commodity Exchange of India Ltd (MCX) also launched coriander futures on July 28.        

Rajasthan is the largest producer of coriander with 65 per cent share followed by Madhya Pradesh (25 per cent) and Gujarat (seven per cent) while Maharashtra, West Bengal, Andhra Pradesh and Bihar account for the rest.        

India is the largest producer of coriander seeds with other producing countries being Bulgaria, Romania, former USSR, Iran, Morocco, Canada and Australia. The total global trade is pegged at 85,000-1,00,000 tonne.