MUMBAI (Commodity Online): Coriander futures gained Friday as traders created fresh positions on the back of rising demand in the domestic buyers.Higher arrivals from the fresh crop limited the downtrend.
In NCDEX coriander February contract closed at Rs.3589 per quintal, higher by 1.33 per cent against the previous close.
In the morning session the contract traded at a range of Rs.3760-3894 per quintal. Open interest of the contract stood at 13820 lots and volume traded is 5920 lots.
Latest data from Andhra Pradesh Agriculture Department showed that Coriander acreage in the state declined to 8863 hectares compared 16819 hectares same period last year.
As per market source, the arrivals include new crop having high moisture content thereby the demand is expected to be subdued but is likely to improve once the dry crop hits the markets.
