The slow activity in the coriander market will be over soon. Experts believe the price will increase from $1,80 to $1,93 in August.
Current Scenario
Only 500 to 600 thousand bags in Gujarat, 200 to 300 thousand bags in Rajasthan, and 700 to 800 thousand bags in Andhra Pradesh are left for coriander to arrive in the market.
Currently, due to the heat wave in some states, the market activity is slow, which has affected the price of coriander.
Also, after Ramzan, there has been a gap in the demand for spice in the market.
The situation has been hand-to-mouth for the spice this season due to the low production. Also, the low-quality stock, which had moisture in it early in the year, was kept aside. As a result, when good quality stock arrived in the market, the price started skyrocketing.
It led to many buyers only purchasing the commodity they needed and didn’t stock it.
Only the high-end and powerful buyers now have stock of coriander.
As a result, the market is expected to improve in the coming days.
Future
Experts believe that from June 20 to September 15, the market will be bullish for spice, and there will be a constant rise in the commodity rate.
The Coriander Eagle 5% Split prices were Recorded at $1,59 per kg FOB