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Muted demand drags down coriander futures by 2.76 pc

Press Trust of India  |  New Delhi 

Coriander prices plunged by 2.76 per cent to Rs 6,864 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 also weighed on coriander futures.

At the National Commodity and Derivatives Exchange, coriander prices for delivery in October fell by Rs 195 or 2.76 per cent to Rs 6,864 per quintal with an open interest of 170 lots.

In similar fashion, the spice price for delivery in November contracts traded lower by Rs 151 or 2.11 per cent to Rs 7,015 per quintal in 12,120 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 18 2016. 17:22 IST