Ahmedabad, April 9 (CommoditiesControl): The coriander market in Gujarat continues to experience a subdued atmosphere, marked by soft prices attributed to a dearth of buyers and sluggish export activity. Today, the state witnessed a decline of Rs 15-20 per 20 kg in coriander prices, reflecting the prevailing market conditions.
Apart from Gondal, where trade activity persists, the arrival of coriander has remained sudued in other markets across the state. Traders attribute the current scenario to selling pressure in the futures market, exerting downward pressure on spot market prices. Presently, business activity in coriander is limited to routine transactions.
Around 42,000 bags of coriander, each weighng 40 kg, arrived in the state today, signaling a substantial supply amid tepid demand. Prior to this, coriander prices had stabilized at an average of Rs 1380-1580 per 20 kg.
In Gondal Mandi, where 80,000 bags had arrived on Saturday, trading continues with new arrivals expected in the coming days. Out of the pending 41,000 bags, 15,745 bags were traded today at prices ranging from Rs 1571 to Rs 2076 per 20 kg. Meanwhile, in Rajkot Mandi, arrivals amounted to 6,500 bags, with prices ranging from Rs 1250 to Rs 1840 per 20 kg.
Other markets in the region also witnessed coriander arrivals, with 2,500 sacks in Halvad, 2,000 sacks in Jetpur, 12,800 sacks in Jamjodhpur, 3,800 sacks in Junagadh, 1,000 sacks in Amreli, 4,000 sacks in Jamnagar, and an additional 7,000-9,000 sacks in other mandis.
In contrast, Guna Mandi in Madhya Pradesh observed stable coriander prices despite a decline in arrivals. Prices for various varieties were reported as follows: Badami at Rs 7,000-7,400, Scooter at Rs 7,600-8,400, and Eagle at Rs 7,400-7,700, with a total arrival of 20,000 bags.
Meanwhile, Kumbhraj Mandi experienced a price decline today due to a fall in NCDEX and increased arrivals, with prices dropping by Rs 100 to Rs 300. Prices for Badami were recorded at Rs 6,500-6,800 (-100), Eagle at Rs 6,800-7,200 (-100), and Scooter at Rs 7,400-7,800 (-300), with a total arrival of 25,000 bags.
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Dhaniya contract for APR delivery settled at Rs 7550/quintal showing an fall of Rs -64 over previous close of Rs 7614/quintal,The contract moved in the range of Rs 7532-7600 for the day. Open interest decreased by -2545 MT to 6630 MT, while trading volume increased by 255 to 3555 MT.
Dhaniya contract for MAY delivery settled at Rs 7654/quintal showing an fall of Rs -50 over previous close of Rs 7704/quintal,The contract moved in the range of Rs 7626-7704 for the day. Open interest increased by 2620 MT to 20820 MT, while trading volume decreased by -620 to 4380 MT
Currently The spread between APR and MAY contract is -104 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 09-Apr-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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