Coriander futures extend gains on spot demand

Coriander prices rose by 1.37 per cent to Rs 4,375 per quintal in futures trade today as participants raised bets, taking positive cues from spot market on rising domestic and export demand.

Besides, tight stocks on account of restricted arrivals from the major growing belts, too, supported the up-trend in prices.

At the National Commodity and Derivatives Exchange, coriander for delivery in July advanced by Rs 59, or 1.37 per cent, to Rs 4,375 per quintal with an open interest of 35,600 lots.

Similarly, the spice for delivery in the current month traded higher by Rs 52, or 1.22 per cent, at Rs 4,315 per quintal, with an open interest of 290 lots.

Marketmen attributed the persistent rise in coriander prices to pick-up in domestic as well as overseas demand against low stocks position on fall in supplies from producing regions.