Coriander down 1.5% on profit-booking

Adequate stocks influence prices

Coriander prices fell by Rs 62 to Rs 4,075 per quintal in futures trade today as speculators booked profits at existing higher levels influenced by a decline in the demand for the commodity in the spot market amid adequate stocks positions.

At the Multi Commodity Exchange, coriander for delivery in September fell by Rs 62, or 1.50%, to Rs 4,075 per quintal, with open interest of 8,730 lots.

October coriander declined by Rs 22, or 0.51%, to Rs 4,288, with an open interest of 27,360 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.