The coriander crop is witnessing than expected downtrend at present. There is no possibility of further reduction because the stock position and demand estimates of coriander indicate a strong recovery in January.
Current Scenario
At the beginning of the current season, the carry forward stock of coriander was 0.5 million bags, and the crop was 0.9 million bags, due to which the balance sheet in the season was tight. It is difficult to say how much the carry forward stock will be in the new season. Still, considering the current situation, the carry forward stock is expected to be significantly less. Experts predict that when the demand for coriander in Gujarat will be visible, then the phase of recovery will begin in the coriander market.
It is estimated that there will be 1.9 to 2.1 million bags of coriander stock in the whole country. The arrival pressure of new coriander will appear in the first week of March. And a lot of demand is yet to be met during the three and a half months before onset in March. The marriage season has initiated, and the demand for Ramadan in Muslim countries has to be fulfilled before the arrival of new coriander starts.
Future Scenario
Looking at the sowing status of coriander, the estimate of production is 1.70 to 1.75 million bags of coriander in the new season. Due to the decrease in imports of coriander in the new season, there will be an increase in demand, according to the sources.
Coriander is expected to stop the fall due to a considerable slowdown, although there is no possibility of a vast boom in Gujarat due to higher sowing than expected. If the arrival of coriander is delayed or if the demand for Ramadan is more than expected, a coriander boom may come before the new arrival in January.
The Coriander seeds prices were recorded at $1,32 per kg FOB.
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