Spot Coriander Steadies in Rajasthan Mandis on Lacklustre Demand, Futures Settle Higher

Mumbai Commodities Control – Spot coriander was range-bound due to weak demand. Prices across all the grades were generally stable, as most of the spice millers avoided making bigger purchases in the markets. Mandi auctions reflected the trend.

However futures market ended in green, as December futures closed Rs 174 higher at Rs 6406 per Quintal. January futures closed at Rs 6400 per Quintal, up Rs 116 on Friday.

After a non-happening festive period, market sentiments seem to be getting affected due to surging cases of corona infections at the advent of wedding season and ahead of Christmas holidays.

Having said so, there’s a restriction on number of guests allowed in a marriage ceremony which means no grand and crowded parties at hotels or banquet halls. This will directly impact the hospitality sector, leading to weak demand for spices.

Arrivals in Rajasthan mandis have shrunk from 10,000 quintals during early November to 6,500-7,000 quintals now.

Meanwhile, Ramganj mandi of Rajasthan reported arrivals of 2400 bags on Friday, Kota mandi--1200 bags, Baran mandi—900 bags and Jaipur- 850 bags.