The coriander market is expected to witness a significant decline of $0,06 per kg in July, posing challenges for those who purchased it at higher prices. This decline can be attributed to the abundant coriander crop of 15 to 20 thousand tonnes in Syria, resulting in a halt in export demand. The slightly lower prices of Syrian coriander compared to India’s will likely further impact the market dynamics after July 15. Additionally, the arrival of Russia’s new crop in July will significantly influence coriander prices.
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Farmers have shifted cumin cultivation
The coriander sowing in the new season is expected to decline drastically as farmers are satisfied with the quality of the coriander. Due to the historically high prices of cumin, farmers have shifted their focus to cumin cultivation. Consequently, coriander sowing has suffered. However, despite the decline in sowing, the availability of coriander from Russia, Syria, and India remains substantial. The cumulative impact of these factors may lead to a recession in coriander prices. The arrival of Syria’s crop is expected to decrease coriander prices.
The export of coriander is estimated to reach a historic 2.0 to 2.5 million bags in the current year. However, this massive export volume does not guarantee an immediate improvement in coriander prices. The large coriander crop in India and the ongoing arrivals of 30 to 35 thousand sacks daily in Gujarat contribute to the existing oversupply. The market pressure of black and yellow coriander has steadily increased in Madhya Pradesh due to quality deterioration caused by the March rains. This pressure has cartoons any significant increase in coriander prices. However, the fundamentals of the coriander market remain strong, with Gujarat’s export demand exhibiting positive trends. The pending shipment of over 150 containers to China indicates strong demand.
While a temporary decline may take center stage due to market pressures, a dramatic price boom could captivate audiences should an unforeseen catalyst emerge, setting the coriander market ablaze in a captivating encore.
