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Spot Coriander Extends Northward Price Rally amid Restricted Arrivals, Robust Demand; Futures Soar to Multi-Month Highs past Rs 7,000/Q

25 Feb 2021 8:41 pm
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Jaipur (Commodities Control) - Spot coriander prices are on the rising spree this week, as the spice extended upside on Thursday, amid limited arrivals and fierce demand. All the segments witnessed at least Rs 100/Quintal rise, while new coriander in Ramganj and Kota mandis reported price gains of Rs 250/Quintal today.

NCDEX coriander hit upper circuit, touching multi-month highs of Rs 7,080/Quintal in April futures. The most-active futures has gained nearly Rs 1000 in February so far.


According to Kota-based trader, corinder prices responded to stagnant arrivals this week. Most of the mandis experienced robust buying interest due to which demand beat arrivals in the markets. The strength of the demand can be understood by the fact that all the coriander bags were auctioned before the afternoon session. State mandis reported arrivals of 25,000 bags of coriander nearly each day of the ongoing week, while usually Ramgaj mandi alone registered daily arrivals of 30,000 bags


In fact many buyers were left empty-handed as all the bags were auctioned out by midday. Spice millers from U.P, Delhi, Maharashtra, Karnataka and Tamil Nadu have been the active buyers at Rajasthan mandis. State mandis reported arrivals of 22,500 bags, of which 18,300 bags consisted new coriander. Old coriander was quoted Rs 150/Quintal higher and new coriander surged as high as Rs 250/Quintal.


Local buyers were equally active, as Kota mandi witnessed price gains of Rs 400/Quinal for Upper grade coriander. There was demand from lower grade corinader as well. Black, Eagle, Badami and Scooter variety reported highest price gains amid demand from spice brands and exporters. At Ramganj mandi, new coriander was quoted at Rs 4300-4400/Quintal on the lower band and Rs 5850-5950/Quintal at its upper end.


State mandis witnessed arrivals of old coriander at 4,200 bags. Ramganj mandi--10,100 bags, Kota mandi--2,500 bags, Baran mandi--1600 bags and Jaipur mandi --900 bags.

MANDI

Commodity

Type/Variety

25-Feb

24-02-2021

Change

JAIPUR, Rajasthan

CORIANDER

BADAMI

6850-7100

6850-7000

100

(FINE GRADE)

EAGLE

7450-7700

7380-7550

150

PARROT

7950-8150

7900-8100

50

RAMGANJ MANDI, Rajasthan

BLACK

5200-5400

5100-5250

150

(loose price)

BADAMI

5500-5700

5395-5550

150

EAGLE

5800-5950

5700-5850

100

NEW LOWER

4300-4400

4200-4350

100

NEW HIGH

5850-5950

5750-5850

100

PARROT

7500-7600

7450-7600

50

Bikaner, Rajasthan

6300-6400

6100-6250

200

NEW LOWER

4300-4500

4100-4200

300

NEW HIGH

5650-5750

5550-5650

100

BADAMI

5500-5650

5350-5520

150

Kota, Rajasthan

EAGLE

5600-5800

5550-5750

50

PARROT

7600-7900

7550-7750

150

BARAN, Rajasthan

BADAMI

5650-5800

5550-5700

100

EAGLE

5850-6050

5800-5950

100




       
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