Coriander futures hit lower circuit, down 4 per cent

Continuing its slide for yet another day, coriander prices slumped by 4 per cent to hit a lower circuit at Rs 5,234 per quintal in futures trading today as speculators engaged in cutting down bets amid muted demand in the spot market.

Besides, adequate stocks on increased supplies from major growing belts also weighed on prices.

At the National Commodity and Derivatives Exchange, coriander for delivery in June plunged by Rs 218, or 4 per cent to Rs 5,234 per quintal with an open interest of 57,940 lots.

Spice for delivery in May contracts traded lower by Rs 161, or 2.99 per cent to Rs 5,227 per quintal in 1350 lots.
 

Analysts said trimming of positions by participants, driven by a fall in demand in the spot markets against ample stock position, kept coriander prices down at futures trade.