Coriander up 3.4% on strong demand

Spice for delivery in February shot up by 3.15%

Coriander prices surged by 3.42% to Rs 7,710 per quintal in futures trading today as speculators indulged in creating fresh positions at existing lower levels, driven by strong demand in the spot market.

At the National Commodity and Derivative Exchange, coriander for delivery in January surged by Rs 255, or 3.42% to Rs 7,710 per quintal with an open interest of 17,700 lots.

Similarly, the spice for delivery in February shot up by Rs 249, or 3.15% to Rs 8150 per quintal in 17,800 lots.

Market analysts said fresh positions created by speculators driven by strong demand in the spot market demand against limited arrivals from producing belts, led to an upsurge in coriander prices at futures trade.