Ahmedabad, March 18 (CommoditiesControl): Gujarat witnessed the arrival of a substantial quantity of coriander today, with around 1,00,000 bags entering the state's mandi. Despite this, the market sentiments remained stable, according to reports from traders.
Traders attribute the increased arrivals to the upcoming closure of markets in Saurashtra, scheduled to commence around the 22nd or 23rd of this month and last for a week. This impending closure has prompted a surge in arrivals today. However, new arrivals in Gondal Mandi were halted today, with businesses indicating that fresh supplies would likely to resume by tomorrow afternoon. However, the volume of incoming produce might not be significant due to the anticipated market closures.
Furthermore, the announcement of elections across the country, including Gujarat, has cast a shadow over trading activities in commodity markets, including the coriander trade. Traders anticipate a potential slowdown in trading due to decreased cash liquidity in markets.
In today's trading, coriander was quoted at an average price range of Rs 1380-1880 per bag, each weighing 40 kg. At Gondal Mandi, pending sacks were traded within the range of Rs 1631-2151 per 20 kg. In Rajkot Mandi, 23,000 bags were traded at Rs 1350-1910 per 20 kg.
Significant quantities of coriander were reported in various markets across Gujarat, including 27,000 sacks in Jamjodhpur, 12,000 sacks in Jamnagar, 5,500 sacks in Halvad, 1,500 sacks in Dhangadhra, 3,300 sacks in Jetpur, 4,200 sacks in Junagadh, and 4,500 sacks in Amreli, with an additional 8,000-10,000 sacks in nearby areas.
Meanwhile, in Madhya Pradesh's Guna Mandi, the price of Eagle variety witnessed a Rs 200 increase, while prices of Badami and Scooter varieties remained stable. The market saw a rise in arrivals, with 25,000 sacks entering the market, prices quoted in the range of Rs 6400-6600 for Badami, Rs 7500-8200 for Scooter, and Rs 7000-7400 for Eagle.
Similar trends were observed in Kumbhraj Mandi, where arrivals surged today, exceeding those of the previous season. Prices stood at Rs 6200-6600 for Badami, Rs 6800-7100 for Eagle, and Rs 7500-8200 for Scooter, with quality goods in Eagle and Scooter contributing to the price increases.
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Dhaniya contract for APR delivery settled at Rs 7720/quintal showing an fall of Rs -92 over previous close of Rs 7812/quintal,The contract moved in the range of Rs 7702-7830 for the day. Open interest decreased by -520 MT to 20330 MT, while trading volume decreased by -300 to 2610 MT.
Dhaniya contract for MAY delivery settled at Rs 7804/quintal showing an fall of Rs -78 over previous close of Rs 7882/quintal,The contract moved in the range of Rs 7782-7892 for the day. Open interest increased by 545 MT to 6950 MT, while trading volume increased by 170 to 1375 MT.
Currently The spread between APR and MAY contract is -84 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 18-Mar-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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