Ahmedabad, March 19 (CommoditiesControl): The coriander market in Gujarat experienced softening prices and increased arrivals as a result of ongoing challenges, including a money crisis and the impending elections. Today, pending coriander sacks were traded in Gondal, Jamjodhpur, Junagadh, and Rajkot mandis, contributing to a market arrival of around 25,000 to 27,000 bags of coriander.
Traders attribute the market downturn to two main factors: firstly, the financial strain associated with the end of March, and secondly, the impact of upcoming elections. As a result, coriander prices decreased by Rs 10-15 per 20 kg in the market.
In Gondal, new arrivals had been halted for several days, but operations resumed today, with expectations of a significant influx of 1.50 to 2 lakh bags of coriander by tomorrow. However, due to the impending holidays for March-end and Holi, markets are anticipated to witness closures, further affecting market dynamics. The peak season has prompted farmers to bring coriander to sell in agricultural markets, leading to long queues outside Gondal Mandi.
Similarly, in Rajkot, new arrivals of coriander ceased today, but pending bags were traded within the range of Rs 1250-1870 per 20 kg. However, with no new arrivals expected from March 21 due to the holiday period, markets are set to reopen on April 1.
In Gujarat, coriander arrivals today were traded at an average price of Rs 1370-1870 per 20 kg, with pending sacks fetching Rs 1601-2076 per 20 kg in Gondal Mandi and Rs 1250-1870 per 20 kg in Rajkot Mandi.
Additionally, in Madhya Pradesh's Guna Mandi, coriander prices remained stable despite a decline in arrivals. Almond coriander was priced at Rs 6300/6600, scooter variety at Rs 7500/8000, and eagle variety at Rs 6800/7300, with arrivals totaling 20,000 bags.
Meanwhile, Kumbhraj Mandi witnessed a price increase of Rs 100-200 for Badami and Eagle varieties, with Badami remaining stable at Rs 6500/6800 (+200), Eagle at Rs 7000/7200 (+100), and Scooter at Rs 7600/8200. Arrivals amounted to 25,000 bags, down from the previous trading day.
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Dhaniya contract for APR delivery settled at Rs 7646/quintal showing an fall of Rs -72 over previous close of Rs 7718/quintal,The contract moved in the range of Rs 7598-7728 for the day. Open interest decreased by -765 MT to 19565 MT, while trading volume increased by 40 to 2650 MT.
Dhaniya contract for MAY delivery settled at Rs 7730/quintal showing an fall of Rs -72 over previous close of Rs 7802/quintal,The contract moved in the range of Rs 7680-7786 for the day. Open interest increased by 465 MT to 7415 MT, while trading volume decreased by -220 to 1155 MT.
Currently The spread between APR and MAY contract is -84 Rs/quintal
Dhaniya stock in NCDEX accredited warehouse as on 19-Mar-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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