Coriander rises by 1.90% on spot demand, tight supplies

Coriander prices were up by 1.90 per cent to Rs 5,300 per quintal in futures trade today as participants indulged in enlarging positions amid rising spot demand.

Furthermore, tight supplies from major producing belts also fuelled the uptrend.

At the National Commodity and Derivatives Exchange, coriander for August delivery rose Rs 99, or 1.90 per cent, to Rs 5,300 per quintal, with an open interest of 6,350 lots.

On similar lines, the contract for July delivery was trading higher by Rs 95, or 1.86 per cent, to Rs 5,201 per quintal, with an open interest of 38,640 lots.

Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against adequate stocks position on fall in supplies from producing regions.