Coriander Arrivals Surge in Saurashtra, Prices Remain Stable

Ahmedabad, February 23 (Commodities Control): In Saurashtra, the coriander season is picking up momentum with a significant arrival of over 63,000 bags today. Despite this surge in supply, prices have managed to stay stable, attributed to local demand and a gradual resumption of export operations.

Traders have noted the varied quality of coriander in the market, including dry, moist, and colored goods. These arrivals originate from the key coriander-producing centers in Saurashtra, shaping market trends. The market trends depends on the sales performance of coriander in the coming days.

The detailed breakdown of arrivals reveals that more than 63,000 sacks, each weighing 40 kg, reached Saurashtra today. Among them, around 4,500 bags comprised old coriander, while prices for new coriander remained steady in the range of Rs 1,250-1,700 per 20 kg. The corresponding prices for old coriander were reported at Rs 1,300-1,450 per 20 kg.

Specific market insights include the arrival of 28,000 sacks in Gondal Mandi, comprising 25,000 sacks of new coriander and 3,000 sacks of old coriander. Prices in Gondal Mandi ranged between Rs 1,551-2,201 per 20 kg.

Despite the stability observed in the spot market, a positive trend was noted during the day in coriander futures on NCDEX.

Dhaniya contract for APR delivery settled at Rs 7798/quintal showing an rise of Rs 12 over previous close of Rs 7786/quintal,The contract moved in the range of Rs 7758-7848 for the day. Open interest increased by 205 MT to 21090 MT, while trading volume decreased by -1495 to 1570 MT.

Dhaniya contract for MAY delivery settled at Rs 7846/quintal showing an fall of Rs -28 over previous close of Rs 7874/quintal,The contract moved in the range of Rs 7836-7920 for the day. Open interest increased by 250 MT to 1955 MT, while trading volume increased by 5 to 545 MT.

Currently The spread between APR and MAY contract is -48 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 23-Feb-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)