Ahmedabad, September 16 (CommoditiesControl): The price of coriander has seen a significant rise due to uptick in demand from stockists and traders in Gujarat. As Gondal Mandi, a key hub for coriander in the Saurashtra region, remains closed today for the Eid festival and tomorrow for Ganesh Visarjan, a three-day market holiday has created a supply gap.
Despite the closure in Gondal Mandi, demand remains strong from southern buyers in other mandis. Many stockists are actively purchasing coriander, selling gram in exchange, which has led to an increase in coriander prices by ₹10-15 per 20 kg.
Today, Gujarat saw the arrival of around 4,050 bags of coriander, with the average price ranging from ₹1,300 to ₹1,450 per 20 kg. In Rajkot Mandi, 2,000 bags were traded at prices between ₹1,050 and ₹1,370, while 350 bags arrived in Jetpur Mandi, 550 in Jamjodhpur Mandi, and 700 more from nearby areas.
Junagadh Mandi, along with Gondal, remained closed today, limiting the overall supply.
On the NCDEX, coriander futures also saw an upward trend. At 13:05 IST, the September contract was trading at ₹7,060 per quintal, up by ₹140. The October contract rose by ₹158 to ₹7,232, and the November contract increased by ₹150 to ₹7,390 per quintal.
Dhaniya contract for SEP delivery settled at Rs 7116/quintal showing an rise of Rs 196 over previous close of Rs 6920/quintal,The contract moved in the range of Rs 6918-7168 for the day. Open interest decreased by -1810 MT to 5115 MT, while trading volume decreased by -3085 to 3665 MT.
Dhaniya contract for OCT delivery settled at Rs 7300/quintal showing an rise of Rs 226 over previous close of Rs 7074/quintal,The contract moved in the range of Rs 7056-7328 for the day. Open interest increased by 970 MT to 20795 MT, while trading volume decreased by -1315 to 7565 MT.
Currently The spread between SEP and OCT contract is -184 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 16-Sep-2024, was 15597 MT
(By Commoditiescontrol Bureau: +91 9820130172)