Coriander Extends Losses After Hitting Three Week High

NCDEX Coriander futures extended losses after hitting a three week high as traders eyed monsoon rainfall and profit selling took a toll on the counter. Spot demand is holding up in major trading places but buying seems to be limited in futures after recent rebound. The NCDEX Coriander futures for July soared from Rs 4270 per quintal to around Rs 4640 in last two weeks. However, the open interest in the counter continued to drop throughout, indicating a lack of fresh buying support. This week has bought in a correction in the counter and the commodity is currently trading at Rs 4542 per quintal, down 0.59% on the day.