Coriander futures rise 4% on export demand

NEW DELHI: Buoyed by strong export and spot demand coriander prices shot up by 4 per cent to hit upper circuit at Rs 12,217 per quintal in futures trade today as participants indulged in enlarging positions.

Besides, limited stocks in the spot markets following restricted arrivals from the major growing belts too supported the upside in prices.

At the National Commodity and Derivative Exchange, coriander for July delivery spurted Rs 469, or 3.99 per cent, to hit upper circuit at Rs 12,217 per quintal with an open interest of 12,770 lots.

Similarly, the spice for delivery in June month too traded higher by Rs 458, or 3.99 per cent, to Rs 11,928 per quintal, with an open interest of 48,020 lots.

Marketmen attributed significant rise in coriander prices to strong export and spot demand, besides tight stock positions due to restricted arrivals from major growing regions.