Coriander hits lower circuit, plunges 4% on low demand

Coriander prices tumbled by 4 per cent to hit lower circuit at Rs 11,599 per quintal in futures trade today as speculators offloaded positions, tracking a weak trend at the spot markets on low demand.
Besides, adequate stocks in the physical market on pick up in arrivals from major producing belts weighed on coriander futures.
At the National Commodity and Derivatives Exchange, coriander prices for delivery in November slumped by Rs 483, or 4 per cent, to Rs 11,599 per quintal with open interest of 50,450 lots.
The price for December delivery also lost Rs 491, or 3.99 per cent, to Rs 11,805 per quintal with open interest of 11,170 lots.

Market analysts said adequate stocks in the physical market against subdued demand mainly dragged down coriander prices at futures trade.