Current Scenario
Last week in coriander, the overall market remained strong as the demand was good. NCDEX and Spot remained slow at the end of the week, and the markets saw some bearishness.
The steady sentiment was witnessed in the Coriander spot market on the weekend. According to sources, as of 17th January 2022, 125.444 hectares area has been sown compared to last year same period 141.004 hectares. Therefore, buyers are likely to be active in the spot market in the coming days as the ending of stocks for the 2022-23 marketing year is almost complete.
The scattering of new crops in coriander has started, and investors hope that the new arrivals will begin soon. According to traders, coriander had an overall stable market. Revenue is steadily declining as the old stock in coriander is about to run out. And a total of 150 sacks were found in Rajkot and Gondal Market Yards on Saturday.
Factors affecting the corridor market
Main Coriander producing areas are – Rajasthan, Gujarat, and Madhya Pradesh. The weather has been bad at all places since Sunday. But so far, there have been no reports of crop damage by rains at any location. Experts also say that the crop may be damaged if the weather remains poor for 2-3 days. Also, in the current year, farmers in some areas avoided growing coriander amidst the uncertainty of the climate.
Prediction
According to the sources, the market will remain stable until the new arrivals. Moreover, the market will thrive in the next three weeks as new arrivals will pick up speed. The demand for the Ramadan festival from Middle east countries will start, which can increase coriander exports in near future.
Bottom-line
Currently, the weather is okay, and standing crops of coriander are reported well. Experts say that the Coriander prices at the Kota spot market may likely go up in the coming days. Overall coriander market is strong and positive and expected to remain up in the near future.
Prices
Coriander Eagle, 5% Split, stands at $1,24 per KG
Coriander Single Parrot stands at $1,54 per KG
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