Coriander up 2.6% on strong demand

Market analysts said increased buying by speculators influenced prices

Coriander prices rose by 2.65% to Rs 5,919 per quintal in futures trade today as speculators enlarged their positions, supported by pick-up in spot demand against tight stocks position on restricted arrivals.

At the National Commodity and Derivative Exchange, coriander for November gained Rs 153, or 2.65%, to Rs 5,919 per quintal, with an open interest of 8,220 lots.

Similarly, the spice for delivery in October traded higher by Rs 147, or 2.62%, to Rs 5,764 per quintal, with an open interest of 18,290 lots.

Market analysts said increased buying by speculators, driven by pick up in spot market demand against tight stocks on restricted arrivals from producing belts mainly influenced coriander prices to rise at futures trade.