Coriander Prices Surge in Gujarat as Arrival Decline

Ahmedabad, June 26 (CommoditiesControl): The coriander market in Gujarat is witnessing a significant reduction in arrivals, leading to a sharp rise in prices due to robust demand. Traders report that prices have escalated by 15-20 rupees per 20 kg in response to the dwindling supply.

Today, the arrivals of coriander in Saurashtra stood at 4770 bags, marking a notable decline compared to previous periods. Market sources indicate that a larger portion of the available coriander comprises older stocks. Analysts suggest that if the current demand persists, further price increases could be anticipated in the near future.

It was noted that Gondal Mandi reported no new arrivals today. However, trading activity continued with 5170 bags, each weighing 40 kg, of pending stocks transacted at prices ranging from Rs 1351 to Rs 1651 per 20 kg.

Meanwhile, in Rajkot Mandi, trading volumes reached 900 bags against which prices ranged from Rs 1210 to Rs 1595 per 20 kg. In Jamjodhpur Mandi, arrivals amounted to 220 bags, while Junagadh Mandi saw 950 bags, Jetpur witnessed 500 bags, and approximately 2200 bags arrived in other smaller markets across the region.

The average price of coriander across Gujarat currently hovers between Rs 1350 and Rs 1500 per 20 kg, reflecting the strong demand-supply dynamics influencing the market.

Dhaniya contract for JUL delivery settled at Rs 7376/quintal showing an fall of Rs -58 over previous close of Rs 7434/quintal,The contract moved in the range of Rs 7354-7450 for the day. Open interest decreased by -1370 MT to 25005 MT, while trading volume decreased by -1720 to 2535 MT.

Dhaniya contract for AUG delivery settled at Rs 7474/quintal showing an fall of Rs -54 over previous close of Rs 7528/quintal,The contract moved in the range of Rs 7450-7526 for the day. Open interest increased by 1270 MT to 6550 MT, while trading volume decreased by -985 to 1805 MT.

Currently The spread between JUL and AUG contract is -98 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 26-Jun-2024, was 14826 MT

(By Commoditiescontrol Bureau: +91 9820130172)