Coriander down 4% on adequate supply

Market analysts said offloading of positions by speculators amid subdued demand in the spot market pulled down the prices

Coriander prices dropped further by 3.88% to Rs 11,160 per quintal in futures trade today as speculators indulged in reducing positions amid ample stocks in the spot market against sluggish demand.

At the Multi Commodity Exchange, coriander for delivery in January month plunged Rs 451, or 3.88% to Rs 11,160 per quintal with an open interest of 7,630 lots.

Market analysts said offloading of positions by speculators amid subdued demand in the spot market, as against adequate stocks, mainly pulled down coriander prices at futures trade.