Coriander Prices Witness Decline of Rs 30-45 in Two Days Amid Surging Arrivals

Ahmedabad, March 01 (Commodities Control): Following a consistent upward trend in the coriander market, prices have experienced a decline of Rs 30-45 per 20 kg over the last two days. Today, due to a sustained increase in arrivals, there has been a further drop of Rs 20-25 in the market. The potential for a continuous rise in arrivals is anticipated in the coming days, although the market could find support and regain momentum if there is an increase in export trade.

Traders highlight the upcoming Spice Meet in Ahmedabad this week as a crucial factor that will influence market trends based on the crop condition.

The coriander market has seen a continuous surge in arrivals, with approximately 95,500 bags (1 bag = 40 kg) arriving in the state today. The increased arrivals have led to a Rs 20-25 decline from the recent peak levels. The average price of coriander in the state currently ranges between Rs 1300-1800 per 20 kg.

In Gondal Mandi, 19,000 bags arrived with 39,000 bags pending. The price in Gondal is reported to be Rs 1551-2126. Other market centers also reported substantial arrivals, such as 9,000 bags in Halvad, 13,000 bags in Jamjodhpur, and 14,000 bags in Amreli. Prices varied across these markets, with Rajkot seeing prices between Rs 1111-1821, Jetpur at 4,000 bags, and Jamnagar with 3,500 sacks. Dhangadhra reported 3,000 sacks, and the surrounding areas witnessed arrivals ranging from 8,000-10,000 sacks.

Dhaniya contract for APR delivery settled at Rs 8028/quintal showing an rise of Rs 28 over previous close of Rs 8000/quintal,The contract moved in the range of Rs 7980-8080 for the day. Open interest increased by 335 MT to 21445 MT, while trading volume decreased by -305 to 2115 MT.

Dhaniya contract for MAY delivery settled at Rs 8110/quintal showing an rise of Rs 26 over previous close of Rs 8084/quintal,The contract moved in the range of Rs 8056-8150 for the day. Open interest increased by 210 MT to 3335 MT, while trading volume decreased by -355 to 550 MT.

Currently The spread between APR and MAY contract is -82 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 01-Mar-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)