Coriander futures up 2.47 pc on good spot demand

NEW DELHI: Coriander futures prices today shot up by 2.47 per cent to Rs 5,020 per quintal in as speculators enlarged their positions on a firming spot demand against restricted arrivals from producing belts.

At the National Commodity and Derivative Exchange, coriander for delivery in August shot up by Rs 121, or 2.47 per cent, to Rs 5,146 per quintal, with an open interest of 13,180 lots.

Likewise, the spice for delivery in September jumped up by Rs 122, or 2.43 per cent, to Rs 5,146 per quintal in 24,110 lots.

Market analysts said increased buying by speculators on the back of good spot demand mainly pushed up coriander prices at futures trade.

They said tight stocks position following less arrivals from producing region also supported the uptrend in coriander.