Coriander Market in Gujarat Sees Slowdown, Prices Remain Stable

Ahmedabad, May 8 (CommoditiesControl) The coriander market in Gujarat witnessed a subdued atmosphere today, marked by a slowdown in activity. Arrivals of coriander were lower in the state's mandis, with traders attributing this decline to the conclusion of general elections in the state on Tuesday.

Despite the decrease in arrivals, prices remained stable due to muted demand. Traders emphasize that the market's future trajectory will depend on the resurgence of local and export demand in the coming days. Currently, there are no significant indicators suggesting a major downturn in the market.

Around 14,000 bags of coriander (1 bag = 40 kg) arrived in Saurashtra today, contributing to a total arrival of around 17,000 bags from across Gujarat. Prior to this, the average price of coriander ranged between Rs 1350 and Rs 1550 per 20 kg.

In Gondal Mandi, where 8,000 bags arrived, 7,680 bags were traded within the range of Rs 1451 to Rs 1931. Similarly, in Rajkot mandi, against the arrival of 1,500 bags, transactions occurred within the range of Rs 1275 to Rs 1550.

Today, 650 sacks arrived in Halvad, 700 sacks in Jetpur, 450 sacks in Jamjodhpur, 550 sacks in Junagadh, 300 sacks in Amreli, 300 sacks in Jamnagar, and approximately 1,500 to 1,700 sacks arrived in other mandis.

Dhaniya contract for MAY delivery settled at Rs 7330/quintal showing an rise of Rs 10 over previous close of Rs 7320/quintal,The contract moved in the range of Rs 7240-7350 for the day. Open interest decreased by -2175 MT to 13930 MT, while trading volume increased by 1815 to 3965 MT.

Dhaniya contract for JUN delivery settled at Rs 7424/quintal showing an rise of Rs 14 over previous close of Rs 7410/quintal,The contract moved in the range of Rs 7352-7442 for the day. Open interest increased by 2295 MT to 15660 MT, while trading volume increased by 1570 to 4100 MT.

Currently The spread between MAY and JUN contract is -94 Rs/quintal.

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

(By Commoditiescontrol Bureau: +91 9820130172)