Muted demand drags down coriander futures by 3.33%

Coriander prices plunged by 3.33 per cent to Rs 7,340 per quintal in futures trade today as traders cut down their bets, triggered by easing demand at 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 October fell by Rs 253 or 3.33 per cent to Rs 7,340 per quintal with an open interest of 2,340 lots.
In a similar fashion, the spice price for delivery in November contracts traded lower by Rs 99 or 1.30 per cent to Rs 7,510 per quintal in 9,000 lots.

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