Ahmedabad, July 03 (CommoditiesControl): Coriander prices in Gujarat experienced a softening trend today, with a decline of Rs 10 per 20 kg. Market analysts attribute this dip to a combination of factors, including reduced arrivals and subdued demand.
The recent rains have significantly curtailed coriander arrivals, and the current demand is relatively low. Traders are also discussing the potential impact of Russian coriander entering the Indian market within the next one or two months. This speculation is contributing to the current softness in the coriander market. The market trends are now closely tied to the anticipated demand for coriander during the upcoming festival season.
Today, Saurashtra saw an arrival of approximately 6000 bags of coriander. The average price in the state ranges from Rs 1300 to Rs 1500 per 20 kg.
In Gondal Mandi, a total of 4408 bags (equivalent to 40kg per bag) were traded, including 4200 bags of new arrivals and pending bags. Prices in Gondal Mandi ranged from Rs 1361 to Rs 1681 per 20 kg. Meanwhile, Rajkot Mandi recorded the trade of 600 bags of coriander, with prices ranging from Rs 1200 to Rs 1420 per 20 kg.
Jamjodhpur Mandi was closed today due to rain. In Junagadh Mandi, 250 bags were received, and Jetpur Mandi saw the arrival of 50 bags. Additionally, around 1000 bags arrived from nearby areas.
Dhaniya contract for JUL delivery settled at Rs 7246/quintal showing an rise of Rs 42 over previous close of Rs 7204/quintal,The contract moved in the range of Rs 7190-7280 for the day. Open interest decreased by -535 MT to 19525 MT, while trading volume decreased by -1375 to 1740 MT.
Dhaniya contract for AUG delivery settled at Rs 7332/quintal showing an rise of Rs 24 over previous close of Rs 7308/quintal,The contract moved in the range of Rs 7304-7374 for the day. Open interest increased by 710 MT to 12930 MT, while trading volume decreased by -750 to 1735 MT.
Currently The spread between JUL and AUG contract is -86 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 03-Jul-2024, was 15452 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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