Ahmedabad, May 27 (CommoditiesControl): The coriander market has experienced a decline in arrivals, though prices remain stable due to lack of demand. Following recent price improvements, farmers had increased their sales, but the subsequent rise in arrivals has stabilized the market. Today, Saurashtra witnessed coriander arrival of around 11,500 sacks, each sack weighing 40 kg, while the total arrival from the entire state reached around 15,000 sacks. Traders attribute the stable prices to low local and export demand.
With existing stocks still ample, farmers and stockists are likely to increase sales if prices improve in the coming days. Currently, the average price of coriander is between Rs 1370 and Rs 1570 per 20 kg.
In Gondal Mandi, no new arrivals were reported today, but 10,380 pending bags were traded at prices ranging from Rs 1501 to Rs 1851. In Rajkot Mandi, 5,000 bags arrived and were traded at prices between Rs 1225 and Rs 1500. The Jamjodhpur market was closed today, while Junagadh saw the arrival of 2,700 sacks, Jetpur received 700 sacks, and surrounding areas reported 2,800 to 3,000 sacks. No arrivals were recorded in Amreli, Halvad, or Jamnagar mandis.
In Madhya Pradesh's Guna Mandi, coriander prices remained stable despite a slight increase in arrivals. The prices were as follows: Badami at Rs 7000/7200, Scooter at Rs 7600/8300, and Eagle at Rs 7200/7400, with a total arrival of 15,000 bags.
Conversely, Kumbhraj Mandi experienced a price drop of Rs 100 due to a decline in paddy prices on NCDEX. The prices in Kumbhraj Mandi were: Badami at Rs 6700/7000 (-100), Eagle at Rs 7100/7300 (-100), and Scooter at Rs 7400/8100 (-100), with an arrival of 10,000 bags.
Overall, the coriander market remains steady amid fluctuating arrivals and demand, with future price movements likely dependent on any uptick in local and export demand.
Dhaniya contract for JUN delivery settled at Rs 7498/quintal showing an fall of Rs -116 over previous close of Rs 7614/quintal,The contract moved in the range of Rs 7480-7630 for the day. Open interest decreased by -1770 MT to 23265 MT, while trading volume increased by 450 to 4335 MT.
Dhaniya contract for JUL delivery settled at Rs 7600/quintal showing an fall of Rs -108 over previous close of Rs 7708/quintal,The contract moved in the range of Rs 7600-7726 for the day. Open interest increased by 2195 MT to 7090 MT, while trading volume increased by 1265 to 3260 MT.
Currently The spread between JUN and JUL contract is -102 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 27-May-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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