Spot coriander rates up as demand rises, supply down.

Prices of coriander rose in Kota, the benchmark market in Rajasthan, because of pick-up in demand from domestic consumers, as well as low arrivals. In Kota, the Badami variety of coriander and the Eagle variety both up 100 rupees from previous close. Arrivals were at 2,000 bags (1bag=40kg) down 1,000 bags from the previous day. On NCDEX, the front-month May contract of coriander was down 1.7% from the previous settlement. NCDEX has cut the open interest limit for the concentration margin in coriander futures to 50,000 tonne from 61,500 tonne. NCDEX has also withdrawn the margin benefit on early pay-in of the spice against short positions. Coriander futures have fallen nearly 20% in the last seven sessions on the bourse, double the pace of the fall in prices in spot markets.