Coriander futures plunge 1.77 pc on muted demand

Coriander prices plunged by 1.77 per cent to Rs 6,710 per quintal in futures trade today as speculators cut down their bets amid sluggish demand in the spot market.
Besides, ample stock position following rising arrivals from major producing belts weighed on coriander futures.
At the National Commodity and Derivatives Exchange, coriander prices for delivery in May month fell by Rs 121, or 1.77 per cent, to Rs 6,710 per quintal with an open interest of 9,290 lots.
The April month contract of the spice traded lower by Rs 111, or 1.66 per cent, to Rs 6,590 per quintal in 31,990 lots.

Market analysts attributed the fall in coriander futures to tepid demand at spot market against sufficient stocks on higher supplies from producing regions.