Agri-commodity: Coriander falls on low demand; mentha oil rises

Coriander prices fell by 2.15 per cent to Rs 4,272 a quintal in futures market today as participants cut down positions amid muted domestic as well as export demand against ample stocks position.

Besides, higher supplies from major growing regions influenced coriander futures.

At the National Commodity and Derivatives Exchange, coriander prices for delivery this month declined by Rs 94, or 2.15 per cent, to Rs 4,272 per quintal, with an open interest of 11,910 lots.

On similar lines, the contract for November was trading lower by Rs 88, or 1.83 per cent, to Rs 4,705 per quintal in 28,030 lots.

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

Mentha oil
Mentha oil prices were up 0.31 per cent to Rs 1,213.30 per kg in futures market today as speculators enlarged their positions due to pick up in demand from consuming industries in the domestic spot market.

Furthermore, tight stock position following restricted arrivals from major producing regions of Chandausi in Uttar Pradesh also supported mentha oil prices uptrend.

At the Multi Commodity Exchange, mentha oil for delivery this month rose by Rs 3.80, or 0.31 per cent, to Rs 1,213.30 per kg, clocking a business volume of 240 lots.

The oil for November delivery traded higher by Rs 2.90, or 0.23 per cent, to Rs 1,226 per kg, with a trading volume of 48 lots.

Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.