Muted demand drags coriander futures by 2.78 pc

Coriander prices tumbled by 2.78 per cent to Rs 5,280 per quintal in futures trade today as speculators offloaded their exposure amid weak demand in the spot markets.
Moreover, higher supplies from major producing belts also fuelled the downtrend.
At the National Commodity and Derivatives Exchange, coriander prices for delivery in July declined by Rs 151, or 2.78 per cent, to Rs 5,280 per quintal with an open interest of 20,030 lots.
On a similar line, the spice for delivery in June contract was trading lower by Rs 145, or 2.71 per cent, to Rs 5,200 per quintal in 36,180 lots.

Market analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.