Coriander up 4.9% on spot demand

Spice for delivery in April contracts shot up by 4.76%

Rising for the second straight day, coriander prices jumped up by 4.91% to Rs 8,095 per quintal in futures trade as speculators indulged in enlarging positions, driven by strong demand in the spot market.

Besides, tight stocks position in the physical market on limited supplies from producing belts supported the upside.

At the National Commodity and Derivative Exchange, coriander for delivery in far-month May spurted by Rs 379, or 4.91% to Rs 8,095 per quintal with an open interest of 2,730 lots.

In a similar fashion, the spice for delivery in April contracts shot up by Rs 367, or 4.76% to Rs 8,081 per quintal in 15,060 lots.

Analysts said speculators enlarged positions, tracking a firm trend at spot market on strong demand against restricted supplies from producing regions helped coriander to rise in futures trade.