Coriander Prices Hold Steady Amid Weak Purchasing in Gujarat

Ahmedabad, April 8 (CommoditiesControl): The price of coriander remained stable in Gujarat today, largely due to decreased purchasing activity within the state and subdued demand, particularly from exporters. The reduced arrivals of coriander in the state's main centers have contributed to this atmosphere of stability, although arrivals remain robust in Rajasthan and Madhya Pradesh. Traders are now anticipating a gradual decline in arrivals in Gujarat.

Market analysts point out that the market dynamics for coriander are heavily reliant on the demand from spice companies. However, stock purchases of coriander have been subdued this year, as buyers adopt a cautious approach amidst low prices of other commodities, including gram. Additionally, the current price levels of coriander are not deemed attractive for stockpiling.

Today, approximately 40,000 bags of coriander, each bag weighing 40 kg, arrived in the state. Prior to this, the average price of coriander remained stable at Rs 1,400-1,600 per 20 kg.

In Gondal Mandi, there were 56,630 bags pending, with transactions occurring in the range of Rs 1,590-2,131. Meanwhile, in Rajkot Mandi, 8,000 bags arrived, with prices ranging from Rs 1,250-1,811.

Other notable arrivals included 2,500 sacks in Halvad, 1,300 sacks in Jetpur, 7,500 sacks in Jamjodhpur, 6,000 sacks in Junagadh, 700 sacks in Amreli, 4,000 sacks in Jamnagar, and an additional 7,000-9,000 sacks in the surrounding areas.

Dhaniya contract for APR delivery settled at Rs 7610/quintal showing an fall of Rs -150 over previous close of Rs 7760/quintal,The contract moved in the range of Rs 7600-7732 for the day. Open interest decreased by -1320 MT to 9175 MT, while trading volume decreased by -75 to 3300 MT.

Dhaniya contract for MAY delivery settled at Rs 7700/quintal showing an fall of Rs -148 over previous close of Rs 7848/quintal,The contract moved in the range of Rs 7686-7830 for the day. Open interest increased by 1250 MT to 18200 MT, while trading volume increased by 1045 to 5000 MT.

Currently The spread between APR and MAY contract is -90 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 08-Apr-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)