Coriander hits lower circuit, plunges 6% on subdued demand

Coriander prices tumbled by 6 per cent to hit lower circuit and closed at Rs 10,904 per quintal in futures trade today as speculators trimmed their positions following a weak trend at the spot market due to subdued demand.
Besides, ample stock in the market following increased arrivals from major producing belts too added pressure on coriander futures.
At the National Commodity and Derivatives Exchange, coriander prices for delivery in November slumped Rs 695 or 6 per cent to end the day at Rs 10,904 per quintal with an open interest of 48,360 lots.
On similar lines, coriander for delivery in December lost Rs 708 or 6 per cent to Rs 11,097 per quintal with an open interest of 11,400 lots.

Analysts said adequate stocks in the physical market against subdued demand, mainly dragged down coriander prices at futures trade.