Coriander surges 2.32% on strong demand

Limited arrivals influence prices

Coriander prices surged by Rs 93 to Rs 4,095 per quintal in futures trading today today as speculators enlarged their positions, driven by strong demand in the spot market amid thin supplies.

At the National Commodity and Derivative Exchange, coriander for delivery in October shot up by Rs 93, or 2.32%, to Rs 4,095 per quintal, with an open interest of 8,210 lots.

November coriander gained Rs 85, or 2.02%, to Rs 4,287 per quintal, with an open interest of 21,960 lots.

Marketmen said increased buying by speculators after rise in spot market demand amid limited arrivals from producing belts led to the rise in coriander futures.