- Spot prices rise across Gondal and Kota
- December futures open interest increases 56.7%
India’s coriander market strengthened during the week ended October 12, supported by higher spot prices across Gondal and Kota, rising futures and declining arrivals. Combined stocks at the two tracked centres fell sharply, tightening available supplies. However, the sustainability of the rally will depend on continued buying interest and fresh arrivals.
Spot prices strengthen across major markets
Coriander prices in Gondal rose 4.9% week on week to INR 15,977/quintal (qtl) on October 12, from INR 15,230/qtl on October 5. Kota prices increased 3.6% to INR 16,080/qtl from INR 15,521/qtl over the same period.
Futures gain amid changing positions
October coriander futures increased 2.5% to INR 15,572/qtl from INR 15,194/qtl, while open interest declined 46.9% to 10,510 t from 19,800 t. The combination of rising prices and falling open interest is consistent with short covering.
December futures advanced 3.4% to INR 16,310/qtl from INR 15,766/qtl. Open interest climbed 56.7% to 17,085 t from 10,905 t, indicating fresh long buildup and increased participation in the later contract.
Arrivals and stocks decline
Coriander arrivals fell 10.9% week on week to 1,189 t from 1,334 t. Kota stocks declined to 7,017 t from 9,905 t, while Gondal inventories decreased to 357 t from 547 t. Combined stocks fell 29.5% to 7,374 t from 10,452 t.
Outlook
Coriander prices are likely to retain a firm bias in the near term if supply remains tight and buying interest persists. However, further gains will depend on demand, fresh arrivals and futures positioning. The latest benchmark price and additional demand-side information would strengthen the market assessment.
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