Ahmedabad, June 13 (CommoditiesControl): The coriander market in Gujarat has been experiencing stable prices, trading within a narrow range over the past few days. Limited selling activity in the market, combined with a lack of strength in both local and export trades, has contributed to this stability.
Traders report that while farmers do not possess much of the current year's stock, there is an abundance of old coriander. Consequently, any slight improvement in prices leads to an influx of old stock in the market. Currently, 20-30 percent of the coriander arriving in the market is old stock.
In the Saurashtra region, approximately 10,000 bags of coriander (1 bag = 40kg) were received today. Despite this quantity, prices remained stable, with the average price ranging between Rs 1,350 and Rs 1,530 per 20 kg.
Specifically, in Gondal Mandi, 7,370 bags were traded at prices ranging from Rs 1,401 to Rs 1,751 per 20 kg. In Rajkot Mandi, 3,000 bags were traded within the range of Rs 1,220 to Rs 1,582 per 20 kg. Other mandis in the region, such as Jamjodhpur, Junagadh, and Jetpur, also reported arrivals, contributing to a total of around 11,000 bags received in Saurashtra today.
The market's stability is expected to persist as long as demand remains subdued and old stock continues to dominate the market.
Dhaniya contract for JUN delivery settled at Rs 7330/quintal showing an rise of Rs 12 over previous close of Rs 7318/quintal,The contract moved in the range of Rs 7310-7356 for the day. Open interest decreased by -1965 MT to 1245 MT, while trading volume decreased by -510 to 4095 MT.
Dhaniya contract for JUL delivery settled at Rs 7438/quintal showing an rise of Rs 12 over previous close of Rs 7426/quintal,The contract moved in the range of Rs 7410-7474 for the day. Open interest increased by 1615 MT to 29710 MT, while trading volume decreased by -240 to 5095 MT.
Currently The spread between JUN and JUL contract is -108 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 13-Jun-2024, was 13498 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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