Ahmedabad, May 6 (CommoditiesControl): In Gujarat's coriander market, prices have maintained stability as a result of low arrivals and subdued demand, particularly in the export segment. The market continues to grapple with stagnant local demand and sluggish export trade.
Traders note that while the arrival of new coriander has reduced, the presence of significant stocks of old coriander held by farmers and stockists is likely to slow down market movement. Consequently, the scope for substantial growth in the coriander market remains limited. The closure of all mandis tomorrow, Tuesday, due to general elections in Gujarat will also influence market trends, with expectations to depend on the arrivals figure on Wednesday.
Today, arrival of around 18,000 bags, each weighing 40 kg, of coriander were reported in Saurashtra, out of a total arrival of around 22,000 bags from across Gujarat. The average price of coriander ranged between Rs 1360-1560 per 20 kg.
In Gondal Mandi, out of the 10,000 bags that arrived, 8,820 bags were traded within the price range of Rs 1441-1901. Similarly, in Rajkot mandi, where 2,000 bags were reported, trading occurred within the range of Rs 1225-1515.
Other notable arrivals today included 600 sacks in Halvad, 500 sacks in Jetpur, 500 sacks in Jamjodhpur, 1,300 sacks in Junagadh, 400 sacks in Amreli, 600 sacks in Jamnagar, along with an additional 1,800-2,000 sacks in other mandis.
Dhaniya contract for MAY delivery settled at Rs 7310/quintal showing an fall of Rs -76 over previous close of Rs 7386/quintal,The contract moved in the range of Rs 7276-7390 for the day. Open interest decreased by -1800 MT to 17285 MT, while trading volume increased by 1450 to 3705 MT.
Dhaniya contract for JUN delivery settled at Rs 7406/quintal showing an fall of Rs -68 over previous close of Rs 7474/quintal,The contract moved in the range of Rs 7370-7480 for the day. Open interest increased by 1865 MT to 12015 MT, while trading volume increased by 2255 to 3645 MT.
Currently The spread between MAY and JUN contract is -96 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 06-May-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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