Ahmedabad, June 19 (CommoditiesControl): Coriander prices have shown improvement over the last two days in Gujarat's spot market, bolstered by positive movements in the futures market. Today, the spot market recorded a price increase of Rs 10 per 20 kg, attributed to the strength seen in futures trading.
Traders note that while the market environment remains strong, the current demand in the spot market is not particularly high. In Gondal Mandi, trades are largely being conducted from pending stocks. The market's future direction will depend on how selling trends evolve in the coming days.
In Saurashtra, approximately 10,000 sacks of coriander were received today. The average price of coriander in the state ranged from Rs 1350 to Rs 1550 per 20 kg. In Gondal Mandi, out of pending bags, 5,885 bags (1 bag = 40 kg) were traded at prices between Rs 1391 and Rs 1776 per 20 kg. Rajkot Mandi, with an arrival of 2,000 bags, saw prices ranging from Rs 1210 to Rs 1551 per 20 kg. Jamjodhpur Mandi received 850 bags. Junagadh Mandi recorded an arrival of 3,500 bags. Jetpur received 700 bags, and other locations reported around 2,700 bags.
The rise in coriander prices is mainly supported by the positive sentiment in the futures market, rather than a significant increase in spot market demand. The market outlook will be closely watched, particularly in terms of selling patterns in the upcoming days.
Dhaniya contract for JUN delivery settled at Rs 7538/quintal showing an was simillar of Rs 0 over previous close of Rs 7538/quintal,The contract moved in the range of Rs 7500-7638 for the day. Open interest decreased by -125 MT to 205 MT, while trading volume decreased by -175 to 80 MT.
Dhaniya contract for JUL delivery settled at Rs 7572/quintal showing an rise of Rs 36 over previous close of Rs 7536/quintal,The contract moved in the range of Rs 7524-7612 for the day. Open interest increased by 20 MT to 30085 MT, while trading volume increased by 20 to 2005 MT.
Currently The spread between JUN and JUL contract is -34 Rs/quintal
Dhaniya stock in NCDEX accredited warehouse as on 19-Jun-2024, was 14119 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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