Muted demand drags coriander futures down by 2.09 pc

Coriander prices fell by 2.09 per cent to close at Rs 5,624 per quintal in futures market today as participants reduced holdings, triggered by muted domestic as well as export demand against sufficient stocks position.
Besides, expectations of good crop production from major growing belts also fuelled the downtrend.
At the National Commodity and Derivatives Exchange, coriander prices for delivery in June declined by Rs 120, or 2.09 per cent, to close at Rs 5,624 per quintal with an open interest of 57,700 lots.
On similar lines, the spice for delivery this month was trading lower by Rs 84, or 1.49 per cent, to end at Rs 5,562 per quintal in 2,440 lots.

Market analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.