Commodities

Coriander perks up on good demand

Our Bureau Chennai | Updated on March 12, 2018 Published on August 14, 2012

coriander

Coriander futures rebounded on the NCDEX and rose over two per cent on a pick-up in demand and as speculators enlarged their positions.

Coriander August contracts increased by 2.5 per cent to Rs 4,750 a quintal, while September and October contracts gained Rs 114 and Rs 117, respectively, to Rs 4,814 and Rs 4,943.

Restricted arrivals from the producing belts and the Centre declaring Rajasthan, the largest producer of the spice, a drought-hit area also supported the uptrend.

In the last eight sessions, coriander futures have declined 15 per cent on fears that the commodity market regulator FMC may impose margins to arrest the price rise. Prior to the downtrend, coriander futures gained over 45 per cent from the beginning of July to the first week of August 4, on concerns over crop output due to deficient rainfall.

Spot prices of the spice at Kota, Rajasthan, were ruling at Rs 4,608 a quintal.

Published on August 14, 2012
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