Coriander up 2% on strong demand

Higher offtake by speculators, lower arrivals from producing belt push up prices

Coriander prices gained Rs 89 to Rs 4,448 per quintal in futures trade today as speculators enlarged their holdings, tracking a rising spot market demand.

Sentiment improved further on limited stocks due to restricted arrivals from the major growing belts.

At the National Commodity and Derivative Exchange, coriander for August rose by Rs 89, or 2.04%, to Rs 4,448 per quintal, with an open interest of 21,210 lots.

July coriander traded higher by Rs 37, or 0.85%, to Rs 4,380 per quintal, with an open interest of 1,470 lots.

Market analysts said increased buying by speculators driven by pick up in spot market demand against less arrivals from producing belt mainly pushed up coriander prices.

 

Lower sowing in the major producing areas due to decline in rainfall also supported the uptrend, they added.