Coriander rises on higher demand, tight supply

Coriander prices rose by Rs 65 to Rs 4,794 per quintal in futures trade today as the investors enlarged their holdings tracking the surge in spot market demand.

Sentiment improved further as a result of the limited stocks on account of restricted arrivals from the major growing belts.

At the National Commodity and Derivative Exchange, the December contract rose by Rs 65, or 1.37%, to Rs 4,794 per quintal, with an open interest of 28,910 lots.

The NOvember contract moved up by Rs 56, or 1.25%, to Rs 4,545 per quintal, with open interest of 1,970 lots.

Marketmen said fresh positions created by speculators, driven by a pick-up in demand in the spot markets against less arrivals, mainly pushed up coriander prices at futures trade.