Coriander plunges 3% on poor demand

Demand falls due to poor domestic demand against adequate stocks position

Coriander prices plunged by 3% to Rs 4,210 per quintal in futures trade today on poor domestic demand against adequate stocks position.

At the National Commodity Exchange, the July contract for coriander plunged by Rs 130, or 3%, to Rs 4,210 per quintal, with an open interest of 1,470 lots.

The August contract lost Rs 100, or 2.29%, to Rs 4,262 per quintal, with an open interest of 20,210 lots.

The sharp fall in coriander was mostly due to poor demand in the spot market at prevailing higher levels against adequate stocks position, analysts said.