Coriander futures dropped by 6 per cent to Rs 7,521 per quintal today as speculators indulged in reducing positions amid ample stocks in the spot market on increased supplies from producing belts.
At the Multi Commodity Exchange, coriander for delivery in April tumbled by Rs 480, or 6 per cent, to Rs 7,521 per quintal with an open interest of 9,760 lots.
In a similar fashion, the spice for delivery in January plunged by 452, or 3.96 per cent, to Rs 10,965 per quintal in 3,880 lots.
Market analysts said offloading of positions by speculators amid adequate stocks position in the spot market on persistent supplies from producing regions kept pressure on coriander prices at futures trade.
