Coriander futures dip 3.57% on spot demand

Coriander prices fell sharply by 3.57 per cent to Rs 6,349 per quintal in futures market Tuesday as participants cut down positions amid muted domestic as well as exports demand against ample stocks position.

Besides, rising arrivals from major producing belts and profit-booking at higher levels weighed on the sentiment.

At the National Commodity and Derivatives Exchange, coriander prices for delivery in January declined by Rs 235, or 3.57 per cent, to Rs 6,349 per quintal with an open interest of 21,750 lots.

Similarly, the contract for delivery in December was trading at Rs 6,610, down by 3.38 per cent, or Rs 231. The open interest of the contract stood at 9530 lots.

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

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)