Coriander down 0.49% on profit-booking

Higher arrivals from key growing areas, sluggish demand prompt sell-off by traders

Coriander prices fell by Rs 32 to Rs 6,500 per quintal in futures trade today as speculators booked profits at existing higher levels influenced by falling demand in spot markets against increased arrivals.

At the Multi Commodity Exchange, coriander for delivery in May fell by Rs 32, or 0.49 per cent, to Rs 6,500 per quintal with an open interest of 13,660 lots.

The April contract declined by Rs 28, or 0.44 per cent, to Rs 6,397 per quintal with open interest of 29,690 lots.     

Market analysts said besides profit-booking by speculators at existing higher levels, sluggish demand in the spot market led to the fall in coriander futures prices.