Coriander climbs 3.45% on strong demand

Traders create huge positions, as limited supplies fuel uptrend

Coriander prices surged by 3.45 per cent to Rs 12,576 per quintal in futures trade today as participants created huge speculative positions, supported by strong demand in the spot market.

Tight stocks position in the physical market on restricted supplies from producing belts further fuelled the upside.

At the National Commodity and Derivative Exchange, coriander for delivery in December shot up by Rs 419, or 3.45 per cent to Rs 12,576 per quintal with an open interest of 34,120 lots.

The November contract gained Rs 346, or 2.94 per cent to Rs 12,110 per quintal in 7,190 lots.

Analysts said fresh positions built up by speculators, driven by strong demand in the spot market against tight supplies from producing region, mainly pushed up coriander prices in futures trade.