Coriander prices rise on spot demand

Lower arrivals from growing belts push demand, as September contracts surges 1.75%

Coriander prices recovered by Rs 78 to Rs 4,500 per quintal in futures trading today as speculators enlarged their positions, driven by the pick-up in spot demand against restricted arrivals from key growing belts.

At the National Commodity and Derivative Exchange, the September contract rose by Rs 78, or 1.76%, to Rs 4,500 per quintal with an open interest of 11,170 lots. August coriander edged up by Rs 53, or 1.23%, to Rs 4,374 per quintal in 18,080 lots.

Market analysts said less arrivals from producing belts led to a rise in coriander prices at futures trade.