Coriander Exports Surge by 57% in January, Prices Decline in Key Markets

Ahmedabad, March 15 (Commodities Control): The coriander market in Gujarat continues to witness a downward trend in prices as arrivals decline amid limited demand. Despite a decrease in coriander arrivals over the last two days, prices have dropped by Rs 10-30 per 20 kg. Today's market data reveals a further decline in prices, with coriander trading at an average of Rs 1375-1875 per 20 kg.

The latest export figures for January 2024 show a significant surge in coriander exports. According to reports, 6225.32 tonnes of coriander were exported during the month, marking a substantial increase of 57% compared to the same period last year when 3548.63 tonnes were exported.

In Gujarat, around 55000 bags of coriander, each weighing 40 kg, arrived today. Despite this, demand remained subdued, resulting in continued price depreciation. In key mandis such as Gondal, Jamjodhpur, and Jamnagar, trading was primarily limited to pending sacks, with new arrivals expected to remain low even on Saturday.

A Gondal-based businessman mentioned that out of 45,000 pending bags, around 25,000 bags were traded in nearby areas. Meanwhile, in Rajkot Mandi, around 20000-22000 bags were traded today at prices ranging from Rs 1300 to Rs 1900 per 20 kg.

The coriander market in Madhya Pradesh's Guna Mandi experienced a decline in prices today. Notably, the Badami variety witnessed a decrease of Rs 400, trading at Rs 6400/600, while the Eagle variety dropped by Rs 300, trading at Rs 6800/7200. However, the quality of the market was affected negatively, with the Scooter variety being the only exception, registering a slight increase of Rs 100, trading at Rs 7500/8200. The total arrival was 15000 bags, significantly higher than the previous trading day.

Conversely, Kumbhraj Mandi in Madhya Pradesh saw stability in prices for the Badami and Eagle varieties. The Scooter variety experienced a modest increase of Rs 100 due to its superior quality, trading at Rs 7200/7800. The total arrival at Kumbhraj Mandi stood at 10000 bags.

Dhaniya contract for APR delivery settled at Rs 7790/quintal showing an fall of Rs -70 over previous close of Rs 7860/quintal,The contract moved in the range of Rs 7734-7880 for the day. Open interest decreased by -140 MT to 20850 MT, while trading volume decreased by -3345 to 2910 MT

Dhaniya contract for MAY delivery settled at Rs 7860/quintal showing an fall of Rs -78 over previous close of Rs 7938/quintal,The contract moved in the range of Rs 7830-7934 for the day. Open interest increased by 340 MT to 6405 MT, while trading volume decreased by -930 to 1205 MT.

Currently The spread between APR and MAY contract is -70 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 15-Mar-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)