Coriander up 1.01% on good demand, tight stocks

Fresh positions created by speculators, demand against less arrivals spurred the rise

Coriander prices rose by Rs 53 to Rs 5,311 per quintal in futures trade today after speculators enlarged their holdings on firming spot markets trend.

The trading 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 January contract rose by Rs 53, or 1.01%, to Rs 5,311 per quintal, with an open interest of 28,670 lots. Similarly, the April contract moved up by Rs 47, or 0.79%, to Rs 6,024 per quintal, with open interest of 16,250 lots.

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