Coriander Prices Rise in Gujarat Due to Lower Arrivals and Reduced Sowing

Ahmedabad, December 02 (CommoditiesControl): The prices of coriander in Gujarat have experienced a notable increase of 20-25 rupees per 20 kg over the last two working days, supported by a reduction in arrivals and reports of less sowing this season. Traders have observed a steady rise, with prices gaining another 10-15 rupees per 20 kg today.

The market is witnessing a tightening supply as coriander arrivals, which were around 12,000 bags a few days ago, have now reduced to approximately 9,000 bags. This drop in supply has provided the necessary support for price increases in the market.

Today, 9,000 bags, each bag weighing 40 kg, of coriander arrived in Gujarat. The average price across the state is now between Rs 1380 and Rs 1580 per 20 kg. In key mandis, the prices also showed upward movement. In Gondal Mandi, where 4,000 bags arrived, coriander traded between Rs 1441 and Rs 1661 per 20 kg. In Rajkot Mandi, with 750 bags arriving, the price ranged from Rs 1220 to Rs 1480 per 20 kg. Other mandis, such as Junagadh, Jetpur, and Jamjodhpur, also saw varied arrivals and prices.

On the National Commodity and Derivatives Exchange (NCDEX), coriander futures were also on the rise. As of 12:05 pm, the December contract was trading at Rs 7900, up by Rs 88. The January contract rose to Rs 7990, up by Rs 126, and the April contract was at Rs 8600, showing an increase of Rs 130 per quintal.

Traders are optimistic that the continued reduced arrivals, coupled with less sowing, could sustain price momentum in the near term. However, the market will continue to depend on future supply conditions and sowing patterns to determine the next trend.

Dhaniya contract for DEC delivery settled at Rs 7900/quintal showing an rise of Rs 88 over previous close of Rs 7812/quintal,The contract moved in the range of Rs 7812-7972 for the day. Open interest decreased by -405 MT to 11705 MT, while trading volume decreased by -1170 to 5135 MT.

Dhaniya contract for JAN delivery settled at Rs 7980/quintal showing an rise of Rs 116 over previous close of Rs 7864/quintal,The contract moved in the range of Rs 7874-8098 for the day. Open interest increased by 1655 MT to 13610 MT, while trading volume increased by 560 to 4625 MT. Currently The spread between DEC and JAN contract is -80 Rs/quintal. Dhaniya stock in NCDEX accredited warehouse as on 02-Dec-2024, was 5051 MT. (By Commoditiescontrol Bureau; +91 98201 3018)