Coriander up on rising demand

Coriander prices rose by Rs 47 to Rs 5,171 per quintal in futures trade today, as speculators created fresh positions, driven by pick-up in spot market demand.

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

At the National Commodity and Derivative Exchange, December coriander rose by Rs 47, or 92%, to Rs 5,171 per quintal, with an open interest of 6,250 lots.

The January delivery moved up by Rs 23, or 0.44%, to Rs 5,222 per quintal, in 29,620 lots.

Market analysts said fresh buying by speculators following pick-up in demand in the spot market against less arrivals, mainly pushed up coriander prices at futures trade.