Coriander futures extend weakness on supply pressure, melts 4%

Falling for yet another session, coriander prices crashed by 4 per cent to hit another lower circuit at Rs 5,626 per quintal as participants engaged in offloading their positions amid subdued domestic and export demand.
Besides, expectations of good crop also weighed on coriander prices at futures trade.
At the National Commodity and Derivatives Exchange, coriander for delivery this month slumped by Rs 234, or 4 per cent, to hit lower circuit at Rs 5,626 per quintal, having interest of 25,730 lots.
Coriander for delivery in June too hit a lower circuit at Rs 5,736 per quintal, falling 4 per cent, in an open interest of 47,180 lots.

Marketmen attributed persistent fall in coriander prices at futures trade on growing worries of rising supplies amid hopes of good crop.
Meanwhile, on a weekly basis coriander prices in futures trade have fallen by about 15 per cent since April 28 when it traded at Rs 6,597 per quintal.