Coriander down 2.5% on muted demand

Coriander prices plunged by 2.51 per cent to Rs 7,601 per quintal in futures market today as traders indulged in trimming their positions, driven by sluggish demand in the spot market against adequate stocks.

At the National Commodity and Derivatives Exchange, coriander for delivery in far-month April tumbled by Rs 196, or 2.51 per cent, to Rs 7,601 per quintal, with an open interest of 6,400 lots.

On similar lines, the spice for delivery in January lost Rs 152, or 2.10 per cent, to Rs 7,102 per quintal in 14,130 lots.

Analysts said cutting down of bets by participants amid subdued demand in the spot market against adequate stocks position on higher supplies from producing belts mainly pulled down coriander prices at futures trade.