Muted demand drags down coriander futures by 3.34%

Coriander prices plunged by 3.34 per cent to Rs 7,660 per quintal in futures trading today as traders cut down their bets, triggered by easing demand in the spot market.
Besides, ample stock position following rising arrivals from major producing belts also weighed on coriander futures.
At the National Commodity and Derivatives Exchange, coriander prices for delivery in September fell by Rs 265 or 3.34 per cent to Rs 7,660 per quintal with an open interest of 18,310 lots.
In similar fashion, the spice price for delivery in far-month October contracts traded lower by Rs 228 or 2.90 per cent to Rs 7,625 per quintal in 2,660 lots.

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