Coriander Prices Drop in Gujarat as Record Arrivals Noted in Mandis

Mumbai, March 12 (CommoditiesControl): Today, Gondal Mandi, the primary center for coriander arrival in Gujarat, witnessed an unprecedented arrival of 1,50,000 bags, each weighing 40 kg. This contributed to a total statewide arrival of 2 lakh bags, causing a substantial price drop ranging from Rs 20-40 per 20 kg. Traders attribute this decline to the increased arrivals, surpassing the average daily arrival of 30,000-35,000 bags.

Businesses in Gondal reported that coriander arrivals had been halted for the past four days, intensifying the rush today. Despite the historic single-day trading of over 40,000 sacks in Gondal Mandi, entry has been restricted once again due to market space constraints.

In total, around 2,00,000 bags of coriander flooded the state today, impacting prices, which currently range from Rs 1450-1950 per 20 kg on average.

Specifically in Gondal, the arrival of 1,50,000 bags pushed prices to Rs 1600-2100 per 20 kg. However, neighboring markets like Rajkot experienced a cessation in new arrivals, with pending goods trading at Rs 1400-1875. Similarly, new arrivals were halted in Rajkot, Jamjodhpur, and Jamnagar.

Various regions in Gujarat reported coriander arrivals, including 11,000 sacks in Halvad, 3,000 sacks in Dhangadhra, 6,000 sacks in Jetpur, 4,200 sacks in Junagadh, 11,000 sacks in Amreli, and an additional 12,000-14,000 sacks in other mandis.

Madhya Pradesh also faced a decline in coriander prices. Guna and Kumbhraj mandis witnessed a drop due to a fall in the NCDEX. In Guna Mandi, prices of Badami, Scooter, and Eagle fell by Rs 300, with arrivals totaling 7,000 bags. Kumbhraj Mandi reported Badami prices at Rs 6500/6000 (-200), Eagle at Rs 6800/7300 (-200), and Scooter at Rs 7800/8300 (-200), accompanied by an arrival of 8,000 bags.

Dhaniya contract for APR delivery settled at Rs 8118/quintal showing an fall of Rs -188 over previous close of Rs 8306/quintal,The contract moved in the range of Rs 8056-8230 for the day. Open interest decreased by -235 MT to 21735 MT, while trading volume decreased by -1215 to 4355 MT.

Dhaniya contract for MAY delivery settled at Rs 8190/quintal showing an fall of Rs -194 over previous close of Rs 8384/quintal,The contract moved in the range of Rs 8106-8300 for the day. Open interest increased by 90 MT to 5170 MT, while trading volume increased by 25 to 1090 MT.

Currently The spread between APR and MAY contract is -72 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 12-Mar-2024, was NA MT.



(By Commoditiescontrol Bureau: +91 9820130172)