New Delhi, March 11 (Commodities Control): The coriander market in Gujarat is experiencing a surge in arrivals, driven by robust demand from spice companies and export markets. However, challenges such as space constraints at Gondal Mandi have resulted in its closure for new arrivals for the past four days. Despite this, a significant arrival of over 1 lakh bags, each weighing 40 kg, is anticipated on Tuesday, with an estimated 1.50 lakh bags expected in the coming days.
Today, around 1,00,000 bags of coriander arrived in the state, commanding prices ranging from Rs 1,450 to Rs 1,950 per 20 kg. The market noted a price increase of Rs 20-40 on this day.
Traders point to a potential production volume of around 40 lakh bags in Gujarat, with only 4-5 lakh bags having arrived so far. This may lead to a shortage in arrivals until April, and market trends will depend on the coriander crop in Madhya Pradesh. The Federation of Indian Spice Stakeholders reports an estimated decline of 47 lakh bags in coriander arrivals this year compared to the previous year.
Comparing production figures, Gujarat's output dropped from 39,58,776 bags last year to 70,37,915 bags in 2024. Madhya Pradesh's production declined from 70,57,633 bags to 60,36,231 bags, while Rajasthan's production decreased from 21,52,533 bags to 16,01,895 bags. Overall, this year's production figures indicate a decrease of about 1,15,96,901 bags compared to the previous year.
The closure of Gondal led traders to shift to Rajkot Mandi, resulting in increased arrivals of over 20,000 bags today, with prices ranging from Rs 1,411 to Rs 1,880. Other markets such as Halvad, Dhangadhra, Jetpur, Jamjodhpur, Junagadh, Amreli, and Jamnagar have also witnessed significant arrivals.
In Madhya Pradesh's Guna mandi, coriander supply increased with 7,000 bags arriving today. Prices remained stable, with no changes noted: Badami priced at Rs 7000/7300, Scooter at Rs 8000/8400, and Eagle at Rs 7000/7600.
Kumbhraj Mandi experienced an increase in both prices and arrivals due to the closure of Binaganj Mandi. The market observed a rise in Eagle prices by Rs 200/100, with a total arrival of 15,000 bags. Prices for Badami remained at Rs 6500/7000, Eagle at Rs 7000/7500, and Scooters at Rs 8000/8500.
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Dhaniya contract for APR delivery settled at Rs 8276/quintal showing an rise of Rs 26 over previous close of Rs 8250/quintal,The contract moved in the range of Rs 8200-8414 for the day. Open interest decreased by -350 MT to 21970 MT, while trading volume increased by 1015 to 5570 MT.
Dhaniya contract for MAY delivery settled at Rs 8360/quintal showing an rise of Rs 38 over previous close of Rs 8322/quintal,The contract moved in the range of Rs 8294-8490 for the day. Open interest increased by 245 MT to 5080 MT, while trading volume decreased by -210 to 1065 MT.
Currently The spread between APR and MAY contract is -84 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 11-Mar-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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