Coriander futures decline 0.89 pc on higher supply

Coriander prices declined by 0.89 per cent to Rs 9,425 per quintal in futures market today as speculators reduced positions amid higher supplies from producing regions.
Further lower demand in the spot markets also put pressure on the prices.
At the Multi Commodity Exchange, coriander for delivery in May fell by Rs 85, or 0.89 per cent, to Rs 9,425 per quintal with an open interest of 26,110 lots.
Similarly, the spice for delivery in April lost Rs 74, or 0.79 per cent, to Rs 9,260 per quintal in 44,710 lots.
Market analysts said speculators reduced positions, triggered by higher supplies from producing regions against low demand in the spot market mainly pulled down coriander prices in futures trade.