Coriander gains by 2.1% on strong demand

Coriander prices gained 2.14% to Rs 5,678 per quintal in futures trade today as speculators enlarged their positions, supported by pick-up in spot demand.

 

The sentiment improved further due to limited stocks position on restricted arrivals from the major growing belts.

 

At the National Commodity and Derivative Exchange, coriander for September gained Rs 117, or 2.14%, to Rs 5,678 per quintal, with an open interest of 23,060 lots.

     

Similarly, the spice for delivery in August traded higher by Rs 85, or 1.53%, to Rs 5,624 per quintal, with an open interest of 1,420 lots.

 

Market analysts said increased buying by speculators, driven by pick up in spot market demand against less arrivals from producing belt mainly helped coriander prices to rise at futures trade.