Coriander Prices Remain Stable, Arrival of 15,000 Bags New Crop Noted in Gondal

Ahmedabad, February 14 (CommoditiesControl): The coriander market in Saurashtra is experiencing a surge in new crop arrivals, with a significant arrival of 15,000 bags in Gondal alone. The overall arrival of new coriander in Saurashtra reached 24,000 bags. Despite the increased arrivals, the prices in the market remained stable today.

The market is witnessing a rise in the arrival of good-quality new coriander, providing support to the business due to the prevailing low prices. Traders are now anticipating the possibility of the arrival of 40,000 to 45,000 bags in the coming week.

Traders in Gondal project a potential increase in the price of coriander by at least Rs 10 to Rs 20 per kg, depending on the demand and supply dynamics in the new season. Import trade in coriander is unlikely for the next 5-6 months as the new crop has commenced locally, keeping prices relatively low.

Rajkot traders reveal plans for a meeting on coriander in Dubai, where participants from Gujarat, Madhya Pradesh, and Rajasthan will convene. This gathering is expected to provide further support to the market.

Today's coriander arrivals in the state included around 24,300 bags of new coriander and 5,700 bags of old coriander, with each bad weighing 40 kg. Prices for new coriander held steady at Rs 1100-1670, while old coriander was priced at Rs 1225-1400 per 20 kg. In total, around 30,000 bags of coriander entered the state market.

The price of new coriander in Gondal is reported to be Rs 1476-2001, with arrivals of 15,000 bags. Other arrival figures include 2,500 bags in Halvad, 3,500 bags in Rajkot, 500 bags in Jetpur, 1,200 bags in Jamjodhpur, 200 bags in Junagadh, 900 bags in Amreli, and around 500 sacks in various other locations.

In Gondal, 3,000 bags of old coriander arrived with prices ranging from Rs 1341-1401. Rajkot witnessed the arrival of 800 sacks priced at Rs 1100-1750, Jetpur with 300 sacks, Jamjodhpur with 800 sacks, Junagadh with 600 sacks, and Halvad with 150 sacks.

Dhaniya contract for APR delivery settled at Rs 7566/quintal showing an rise of Rs 14 over previous close of Rs 7552/quintal,The contract moved in the range of Rs 7472-7612 for the day. Open interest was simillar by 0 MT to 20980 MT, while trading volume was simillar by 0 to 1365 MT.

Dhaniya contract for MAY delivery settled at Rs 7648/quintal showing an rise of Rs 30 over previous close of Rs 7618/quintal,The contract moved in the range of Rs 7542-7686 for the day. Open interest was simillar by 0 MT to 1235 MT, while trading volume was simillar by 0 to 200 MT.

Currently The spread between APR and MAY contract is -82 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 14-Feb-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)