In the world of spices, coriander often takes center stage, but recent market trends suggest a different story. Despite the limited influx of coriander in central producing states, the wholesale price of this essential culinary ingredient has remained on a rollercoaster, hinting at a persistent slowdown in its trade.
After a disheartening phase of historically low monsoon rainfall in August, the weather deities have once again unleashed their aquatic fury in various corners of our country. Rajasthan, grappling with the aftermath of heavy rains and floods, now witnesses gentle showers. Yet, this climatic reversal hasn’t breathed life into the coriander trade.
Stockists, the unsung heroes of the spice supply chain, are showing an unusual reluctance in procuring coriander stocks despite the recent surge in arrivals. Madhya Pradesh and Gujarat reported limited arrivals.
A dip in coriander prices
While earlier speculations hinted at a potential drop in coriander production in Rajasthan, the current arrivals level has debunked such predictions. Consequently, the market witnessed a dip in coriander prices, particularly in Ramganj and Baran Mandi. Recent fervent buying by stockists had briefly boosted prices. Still, the current rates for Badami Coriander stand at In Ramganj Mandi, Badami Coriander is priced at approximately $0,77 – $0,84 per quintal, with Eagle at about $0,77 – $,84. In Baran Mandi, Coriander Badami dipped to roughly $0,74 – $0,77, while Eagle held at around $0,77 – $,84.per kg. This change occurred after an earlier increase of approximately $0.04 – $0.06.
Data from the Spices Board paints an interesting picture – the first two months of the current fiscal year 2023-24 saw India exporting 36,982 tonnes of coriander. In the same period a year ago, a mere 7,812 tonnes were exported. This astounding quantitative increase of 372 percent in coriander exports is remarkable. However, the financial leap of 184 percent is somewhat muted due to prevailing low domestic prices.
As we navigate this intricate spice saga, coriander appears poised to maintain its sluggish stance in the coming days as market forces and meteorological whims continue to dance to their tune.