MUMBAI (Commodity Online): Coriander futures in NCDEX gained Monday on short covering by the traders due to rising spot demand ahead of festive seasons amid fall in daily arrivals.

According to Physical Participants, arrivals decreased for today as farmers would be engaged in the sowing of the next crop and the arrivals of Soybean seeds increased due to harvesting completed. Local stockist Demand has been observed in local Mandis since last Monday at lower price levels.

For the period April 2011– March 2012, Estimated export of spices is around 5,75,270 MT with value of 2037.76 million US $. Estimated export of Coriander is 28,100 MT with total value of Rs. 16401.85 lakh.

In NCDEX Coriander November contract traded in the evening session at Rs.4755 per quintal, higher by 3.57% and open interest of the same stood at 29640 lots as of now.