Ahmedabad, March 21 (Commodities Control): Gujarat's coriander market has witnessed a significant surge with the arrival of 21 lakh bags of new coriander for the current season. The arrival of new produce has been driven by robust local demand, leading to a price increase of Rs 10-15 per 20 kg.
Traders attribute this spike in demand to the approaching closure of markets for a week from next Monday, as March draws to a close. With the onset of the spice season, traders are actively making purchases, stimulating market activity.
The last 1.25 lakh bags of the current financial year arrived in Gondal Mandi on Wednesday, marking the closure of the previous season's arrivals. Now, the focus shifts to the new arrivals expected in April. Farmers, keen on capitalizing on market fluctuations, are swiftly selling their coriander produce, contributing to the healthy arrivals in the mandis. Market sentiments going forward will heavily rely on the arrivals in April.
Today, around 32,000 bags of coriander arrived in Gujarat, with each weighing 40 kg, and price quoted in the range range of Rs 1,380-1,880.
In Gondal Mandi, out of the 95,000 bags pending, 20,000-22,000 bags were traded at Rs 1,601-2,301 per 20 kg. Similarly, in Rajkot Mandi, 1,500 pending bags were traded at Rs 1,200-1,580 per 20 kg.
Various other mandis in Gujarat also witnessed substantial arrivals, including 11,500 sacks in Jamjodhpur Mandi, 2,500 sacks in Halvad, 1,000 sacks in Dhangadhra, 3,200 sacks in Jetpur, 1,300 sacks in Junagadh, 4,000 sacks in Amreli, and an additional 7,000-8,000 sacks in nearby areas. There was also trading of pending sacks in Jamnagar Mandi.
Meanwhile, in Madhya Pradesh, coriander prices remained stable, with arrivals and prices maintaining stability in Guna Mandi. At Kumbhraj Mandi, prices for various coriander varieties remained unchanged, with arrivals consistent compared to the previous day.
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Dhaniya contract for APR delivery settled at Rs 7668/quintal showing an fall of Rs -72 over previous close of Rs 7740/quintal,The contract moved in the range of Rs 7614-7730 for the day. Open interest decreased by -490 MT to 18085 MT, while trading volume decreased by -420 to 2800 MT.
Dhaniya contract for MAY delivery settled at Rs 7738/quintal showing an fall of Rs -86 over previous close of Rs 7824/quintal,The contract moved in the range of Rs 7698-7804 for the day. Open interest increased by 725 MT to 9190 MT, while trading volume increased by 365 to 2065 MT.
Currently The spread between APR and MAY contract is -70 Rs/quintal.
Dhaniya stock in NCDEX accredited warehouse as on 21-Mar-2024, was NA MT.
(By Commoditiescontrol Bureau: +91 9820130172)
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