Coriander futures hits upper limit on upsurge in demand

NEW DELHI: Coriander futures prices today hit daily upper limit by surging Rs 261 to Rs 6,772 per quintal on frantic buying by speculators driven by rising demand in the spot market amid restricted arrivals.

At the National Commodity and Derivative Exchange, coriander for delivery in May shot up by Rs 261, or 4.01 per cent, to Rs 6,772 per quintal with an open interest of 12,060 lots.

In a similar fashion, the spice for delivery in April jumped up by Rs 256, or 4 per cent, to Rs 6,656 per quintal in 30,440 lots.

Marketmen said besides upsurge in demand in spot market, less arrivals from producing belts led an upswing in coriander prices to hit upper limit at futures trade.