Coriander up 0.86% on strong demand, limited stocks

Pick up in spot demand supported prices

Coriander futures prices today gained Rs 34 to Rs 3,954 per quintal as speculators enlarged their positions, supported by pick-up in spot demand.

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

At the National Commodity and Derivative Exchange, coriander for delivery in August month gained Rs 34, or 0.86% to Rs 3,954 per quintal, with an open interest of 9,690 lots.

The July contract traded higher by Rs 32, or 0.84%, to Rs 3,830 per quintal in 10,770 lots.

Market anlysts said increased buying by speculators, driven by pick-up in spot demand against less arrivals from producing belt, mainly helped coriander prices to went up at futures trade.