Coriander Chronicles: Madhya Pradesh witnesses a crescendo of prices, with coriander significantly increasing. In the midst of this, the arrival of farmers is on a steady decline, attributed to the price uptick. A daily influx of 15 to 20 thousand gunny bags is observed in Madhya Pradesh’s shops.
A careful projection estimates a coriander crop of one crore bags in Madhya Pradesh. 7.0 to 7.5 million bags have graced the market, leaving farmers with 2.5 to 3.0 million bags. The allure of higher prices for green-quality coriander in Madhya Pradesh bodes well for sustained sowing. The stage is set for coriander sowing, with Gujarat leading the charge. A predicted minor increase looms on the horizon. This prospective surge, while uncertain, counters any prospect of a recession. A significant factor is the surge in turmeric prices, impacting the spice complex’s entirety, thus fueling interest among stockists and investors.
A future chapter unfolds with the introduction of Russian coriander. Importing 300 containers of coriander from Russia shapes the horizon. As August gives way to October, this influx, while impacting international markets, largely spares the retail market. China’s potential to import Russian coriander is restricted, bolstering the prospect of re-exporting coriander. As the realm of coriander unfolds, investment patterns come to light. Amidst a backdrop of surging spice prices, foreign investors gravitate towards Indian coriander. Stockists and investors mirror this sentiment, as the allure of stability and potential for cold storage stocking drive their strategies.
The influence of Russian coriander imports ripples across a two-month horizon. Beyond this, anticipation envelops the coriander market, promising a novel crescendo.