NCDEX coriander up 2% on bargain buying; spot unch

The futures contracts of coriander were up nearly 2% on the NCDEX as investors bought the commodity. The most active July contract was up 1.7%. Open interest in the contract rose by 170 tn to 35,780 tn indicating bargain buying. In Kota the benchmark market, the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety was sold at 5,100 rupees, both steady from previous close. However, the medium term outlook for coriander remains weak because of low global demand and higher carryover stocks.