NCDEX coriander hits 3% upper cap on bargain buying

Futures contracts of coriander on NCDEX hit the 3% initial upper circuit because investors bought the commodity after prices fell to a one-week low. The most-active April contract of coriander on NCDEX traded at 5,914 rupees per 100 kg, up 2.7% from the previous close. Expectation of lower production in 2017-18 (Oct-Sep) as farmers shifted from coriander to jeera following attractive prices of the latter last year, also supported coriander futures.