Indian coriander seeds steady, export demand underpins FOB New Delhi

The coriander seed market in India is currently trading in a relatively steady band, with FOB New Delhi offers in EUR terms broadly aligned with firm but not overheated domestic mandi prices. Spot mandi quotations in key hubs such as Unjha and Ramganjmandi are holding in the mid-range of their recent bands, reflecting balanced buying from local processors and exporters against the backdrop of seasonally good Rabi 2025/26 crop prospects. Latest mandi data from early March show average coriander seed prices around ₹9,100 per quintal at Unjha, with a wide intra-mandi range from roughly ₹7,350 to ₹12,025 per quintal depending on grade and quality . On the export side, India’s coriander shipments have been expanding—Spices Board statistics indicate coriander export volumes in April–September 2025 were up about 11% year-on-year, with export value rising roughly 12% —which helps to keep a floor under FOB quotations despite the arrival of new crop in major producing states such as Rajasthan, Madhya Pradesh and Gujarat. Weather conditions in these growing regions remain seasonally benign with mainly dry and slightly warmer-than-normal forecasts over the coming three days, conducive for late harvesting and post-harvest handling rather than posing any immediate yield threat. Against this macro and weather backdrop, current New Delhi FOB quotations for Indian coriander seeds show a sideways pattern over the last four weeks: organic whole and powder offers eased only marginally earlier in March and have since stabilized, while conventional grades such as double parrot, single parrot and eagle/split have edged higher month-on-month, reflecting steady demand for medium grades and competitive positioning against Egyptian origin offers. With NCDEX coriander futures trading in the mid-range of their 52‑week band and spot market volatility contained , the short-term outlook points to a narrowly sideways-to-firm price profile, where increases are likely to be incremental and linked primarily to export demand spikes or logistics disruptions rather than domestic crop concerns.

📈 Prices & Market Overview

Indian FOB New Delhi – Current Offers (converted to EUR)

Note: User prices are given in USD/kg FOB. For this report, an approximate FX of 1 USD = 0.92 EUR is applied. All prices are indicative closing levels as of 14 March 2026.

Product	Origin	Specification	Location	Delivery terms	Latest price (EUR/kg FOB)	Prev. price 1 week ago (EUR/kg)	WoW change (%)	MoM change* (%)	Sentiment
Coriander seeds – whole, organic	India	Whole	New Delhi	FOB	2.02	2.07	-2.4	-2.2 vs 14 Feb	Soft / stable
Coriander seeds – powder, organic	India	Powder	New Delhi	FOB	2.35	2.39	-1.7	-1.9 vs 14 Feb	Soft / stable
Coriander seeds – double parrot	India	Whole, double parrot	New Delhi	FOB	1.20	1.17	+2.4	+6.6 vs 14 Feb	Firm
Coriander seeds – single parrot	India	Whole, single parrot	New Delhi	FOB	1.06	1.06	0.0	-0.9 vs 14 Feb	Neutral
Coriander seeds – eagle, split	India	Eagle, split, 98% purity	New Delhi	FOB	0.85	0.85	0.0	0.0 vs 14 Feb	Neutral
Coriander seeds – 99.9% purity	India	99.9% purity	New Delhi	FOB	0.86	0.84	+2.3	-1.1 vs 14 Feb	Stable-to-firm

*MoM change approximated vs latest available prices around 14 February 2026 based on user time series.

Egyptian FOB Benchmark (converted to EUR)

Egyptian coriander seed export price indications for early 2026 are reported around US$1.36–2.73/kg wholesale . Using the same 0.92 FX, this implies roughly EUR 1.25–2.51/kg, positioning mid-range Egyptian material slightly above current Indian conventional 99.9% purity FOB New Delhi, but broadly competing with higher grades.

Origin	Specification	Indicative price (EUR/kg FOB)	Relative to IN 99.9% FOB
Egypt	Coriander seeds (wholesale range)	1.25 – 2.51	Moderately higher

🌍 Supply & Demand Context

• 📦 Domestic supply: Latest government and brokerage analysis suggests India’s coriander output in 2025/26 is broadly in line with last year, with Gujarat’s Rabi coriander area stable to slightly up . Key producing states remain Rajasthan, Madhya Pradesh and Gujarat, with peak arrivals typically flowing through hubs such as Ramganjmandi (Rajasthan) and Unjha (Gujarat) .
• 🧺 Domestic demand: Coriander is a staple spice for both household and industrial masala blends. Retail coriander leaf prices remain firm across India , indirectly supporting seed and powder demand through value-chain tightness.
• 🚢 Exports: Spices Board data show coriander exports in April–September 2025 at about 33,025 tonnes, up 11% year-on-year, with export value up 12% . Coriander accounts for roughly 3% of India’s overall spice export basket by value, with key buyers in the Middle East, Southeast Asia and Europe .
• 🌐 Competition from other origins: Egyptian coriander remains an important alternative supplier. Current wholesale ranges from US$1.36–2.73/kg (≈EUR 1.25–2.51/kg) keep Egypt competitive in higher-grade segments, but India retains an edge in bulk medium grades .
• 🧪 Regulatory & quality factors: Heightened scrutiny of pesticide residues and adulteration in Indian spices has led to tighter sampling and testing regimes by the Spices Board and FSSAI, particularly after high-profile enforcement actions . This raises compliance costs but supports premiums for certified organic and fully traceable lots.

📊 Fundamentals & Futures Signals

• 📉 NCDEX coriander futures: Exchange data show coriander futures have traded within a 52‑week range of roughly ₹6,780–₹12,500/100 kg, with current levels in early March 2026 sitting in the mid-band . In EUR terms (using 1 EUR ≈ ₹90), this equates to about EUR 7.53–13.89 per 100 kg, or EUR 0.075–0.139/kg.
• 🔁 Link to physical prices: Spot mandi averages around ₹9,100/100 kg at Unjha on 3 March 2026 (≈EUR 10.11/100 kg, or EUR 0.101/kg) , consistent with the mid-range of NCDEX futures and aligned with the stability observed in FOB New Delhi conventional grades.
• 📈 Speculative positioning: While detailed COT-style data are not public, the mixed signals across the NCDEX spices complex and a relatively calm coriander volatility backdrop suggest neither funds nor commercial traders are taking extreme directional bets.
• 📦 Stocks & inventories: Strong export performance over 2024–25 and into FY26 alongside steady domestic consumption indicates that pipeline stocks are comfortable but not excessive. Coriander’s share in India’s spice exports—around 3% by value in 2023–24 —points to a niche but structurally firm demand base.

⛅ Weather Outlook – India (Rajasthan, MP, Gujarat)

Weather for 16–19 March 2026 across India’s core coriander belt (Rajasthan, Madhya Pradesh, Gujarat) is generally seasonally dry with slightly above-normal daytime temperatures and cool nights. Short-term forecasts point to:

• Rajasthan (Kota / Ramganjmandi corridor): largely dry, maximum temperatures in the low-to-mid 30s °C, minimal rainfall risk – favourable for ongoing post-harvest operations and curing, with limited risk of quality damage.
• Gujarat (Unjha / North Gujarat): dry and warm conditions, light winds, aiding storage and movement from mandis to processing and export channels.
• Madhya Pradesh: isolated light showers possible in northern pockets but not widespread; main coriander-growing areas are expected to remain mostly dry.

Overall, this 3‑day pattern supports a neutral-to-slightly-bearish supply bias (ease of arrivals and transport), but the effect is modest in the very short term and is already largely priced into current offers.

📌 Trading Outlook & Strategy

• For European and Middle Eastern buyers seeking conventional 99.9% purity Indian coriander seeds, current FOB New Delhi levels around EUR 0.86/kg appear competitive versus Egyptian origin for medium grades. Consider layering purchases on dips rather than chasing rallies.
• Organic whole and powder offers, at approximately EUR 2.02–2.35/kg, have softened slightly month-on-month, reflecting easing quality premia. Buyers with stringent residue requirements may use this window to extend coverage modestly into Q2 2026.
• Processors relying on double parrot and eagle/split grades should note the firm undertone: double parrot has gained around 6–7% over the past month in USD terms, translating similarly in EUR. This suggests limited downside without a clear demand shock.
• Given stable to higher export demand and benign weather, near-term downside risk in EUR-denominated FOB prices is limited. Incorporating flexible shipment windows and optional volumes can help manage any upside spikes linked to sudden overseas tenders.
• Short-term traders on Indian futures exchanges may consider a range-trading approach, using the mid-band of the 52‑week NCDEX range as a pivot, with tight stops given the potential for export-led squeezes.

📆 3‑Day Regional Price Outlook (EUR, indicative)

Assumptions: FX held constant at 1 USD = 0.92 EUR; no major policy or logistics shocks; weather as outlined above. Price moves refer to indicative FOB New Delhi levels for Indian origin and indicative FOB prices for Egyptian origin.

Date	Region / Market	Grade	Indicative price (EUR/kg FOB)	Expected daily move	Bias
16 Mar 2026	India – New Delhi FOB	Coriander seeds 99.9% purity	0.86	±0.01	Sideways
17 Mar 2026	India – New Delhi FOB	Coriander seeds 99.9% purity	0.86–0.87	+0.01 max	Slightly firm
18 Mar 2026	India – New Delhi FOB	Coriander seeds 99.9% purity	0.87	+0.01	Slightly firm
16–18 Mar 2026	India – New Delhi FOB	Organic whole / powder	2.02–2.35	Stable (±0.02)	Sideways
16–18 Mar 2026	India – New Delhi FOB	Double parrot, eagle/split	1.20 / 0.85	±0.01	Sideways-to-firm
16–18 Mar 2026	Egypt – FOB benchmark	Coriander seeds (bulk)	1.25–2.51	Stable	Neutral

Overall, the coriander complex in India (region: IN) is set for a calm, slightly firm three trading days, with EUR-denominated FOB offers largely range-bound and driven more by incremental export interest and FX than by domestic weather or crop stress.