The coriander market, once faced with a downward spiral, is now exhibiting a promising trajectory, poised for stability in the times ahead. Rajasthan’s Kota shop witnessed a dip in coriander prices, plummeting to $0,66-0,78 per kg in June, primarily due to a robust influx of new stocks. As the inflow pressure eased, a rejuvenation was witnessed, propelling the price to $0,84-0,93 per kg. Notably, April 2022 saw coriander’s wholesale price skyrocket to $1,56 per kg, marking its highest peak in seven years.
Satisfactory production
The current year’s coriander production, propelled by expanded cultivation and heightened yield rates, has been satisfactory. With the peak season of fresh supplies subsiding, coriander prices are experiencing an upsurge driven by mounting export demands, while domestic consumption remains relatively stable. The Indian coriander export market has thrived over the last few months, fueled by the competitive export offer price, which is distinctively lower than other exporting nations. Notably, the global market has encountered disruptions in Russian coriander supplies.
Anticipated momentum in coriander export hinges on Russia’s upcoming new crop harvest preparations in the ensuing weeks. Significantly, astute entrepreneurs who have reaped profits from spices like Cumin, Fenugreek, Kalonji, Saunf, and Isabgol are now turning their investments towards coriander, fostering heightened sales, purchases, and price elevation. Rajasthan, Gujarat, and Madhya Pradesh lead in coriander production.
High price levels?
While the fluctuating market poses a challenge for branded spice traders and manufacturers, given their inflexible pricing structures, exports still need to be expanded compared to domestic consumption. Coriander prices are poised for further elevation due to controlled supplies and strategic stockholding by traders and stockists. Yet, coriander’s ascent is expected to be more measured, unlike cumin. Forecasts for coriander prices remain contingent upon cultivation areas and weather conditions during October-November sowing. Akin to cumin, coriander’s cultivation area could expand with sustained high price levels, ushering in a potential period of resurgence.