Coriander is currently taking the spotlight in the world of spices, but not for the right reasons. Producers, holding on to their stocks with the anticipation of soaring prices, have shifted gears, intensifying the sale of coriander. This shift has flooded the markets of central-producing states with this aromatic spice.
While supply and availability have started to gain momentum, demand remains the status quo. Despite the festive season, there is a drought regarding the prospects of an upsurge in coriander prices. All eyes are now on late October and early November when coriander sowing is set to commence, motivating producers to trim their stockpiles. In regions like Madhya Pradesh and Rajasthan, the market is dancing to the rhythm of steady demand from spice manufacturers, preventing a downturn. Yet, traders and stockists remain cautious, given the situation at hand.
Could prices go up?
However, there’s another chapter in the tale of coriander’s fortunes. After a recent lull in the central producing states, the arrival of coriander has started to ebb again. In light of the estimated high stockpile among farmers, business activities have shown signs of slowdown. As a result, the chances of a price hike in coriander shortly are slowly losing their pungency.
Recently, the influx of coriander in central-producing states like Madhya Pradesh and Rajasthan prompted a decline in wholesale prices. With the market mood shifting, farmers are again restraining the sale of their coriander harvest, pending the upcoming sowing of the new crop.
The recent slowdown in this essential grocery item’s arrival boosted expectations for a bountiful coriander harvest. In markets such as Ramganj and Baran, the appearance has dipped. Spices Board data reveals that the export of coriander from India in the first three months of the current fiscal year (2023-24) amounted to 49,173 tonnes. This shows a substantial increase compared to the previous year when only 11,289 tonnes were exported.
Amidst sluggish sales and predictions of excess stock held by farmers, the prospects of an upswing in coriander prices appear to be losing their zest.
Import/Export Statistics
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