Ahmedabad, July 9 (CommoditiesControl): The coriander market in Gujarat remains stable amidst reduced arrivals and limited demand. According to traders, the decrease in arrivals is primarily due to recent rains. Despite the current stability, there is potential for market support if export demand increases. Currently, demand from spice companies is sluggish, though an uptick is anticipated during the upcoming festival season.
Today, approximately 8050 bags of coriander were received in Saurashtra, with the average price ranging between Rs 1300-1500 per 20 kg. In Gondal Mandi, out of 5000 bags received, 2855 bags were traded at prices ranging from Rs 1351 to Rs 1601 per 20 kg. In Rajkot Mandi, all 850 bags received were traded, with prices between Rs 1210 and Rs 1380 per 20 kg. Additionally, Jamjodhpur Mandi received 350 bags, Junagadh Mandi received 250 bags, and Jetpur Mandi received 300 bags, with the remaining 1300 bags traded around Rs 1000 per 20 kg.
The coriander market's current steadiness reflects a balance between supply and demand. However, changes in weather and upcoming festival demands could influence future price movements. Traders are closely monitoring potential export opportunities which could provide further market support.
Dhaniya contract for JUL delivery settled at Rs 7148/quintal showing an fall of Rs -28 over previous close of Rs 7176/quintal,The contract moved in the range of Rs 7122-7216 for the day. Open interest decreased by -2930 MT to 13260 MT, while trading volume increased by 1710 to 4365 MT.
Dhaniya contract for AUG delivery settled at Rs 7252/quintal showing an fall of Rs -24 over previous close of Rs 7276/quintal,The contract moved in the range of Rs 7228-7318 for the day. Open interest increased by 2235 MT to 18385 MT, while trading volume increased by 1690 to 5125 MT.
Currently The spread between JUL and AUG contract is -104 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 09-Jul-2024, was 15680 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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