In the dynamic world of coriander trading, recent market trends reveal a temporary slowdown due to stalled demand from China. Let’s explore the current state of the coriander market, its impact on exports, and the emerging import landscape.
Price surge has curbed demand
Despite the current lower prices of coriander, the export business has experienced a slowdown following a recent rally. Exporters have noted that the export price per kg stands at $0,86 with China emerging as a critical buyer this year. However, the price surge has curbed demand from China in recent days. Exporters anticipate that when prices drop, Chinese buyers will again purchase coriander. Presently, Dubai Jebel Ali Port’s export price is around $950 CIF per tonne.
Regarding imports, traders report the arrival of approximately 200-300 containers of old coriander, with new shipments expected shortly. The influx of imported coriander is projected to reach India between September and October. The imported coriander is priced at $700 per tonne. While it may appear more expensive than domestic coriander, it is widely consumed in regions like Uttar Pradesh and Bihar.
Industry experts predict a positive trend in coriander prices, attributing it to anticipated crop production influenced by the El Nino effect. With coriander trading near the 7000 levels, a recovery towards the 7400-7700 levels is expected. Furthermore, coriander, with its lower price than cumin, presents potential opportunities for market growth.
Decline in prices?
While the coriander market currently experiences sluggishness due to stalled demand from China, the potential for revival lies in a decline in prices. Exporters eagerly await a price drop to entice Chinese buyers. Meanwhile, the import market showcases emerging opportunities with new shipments in the coming months. Understanding regional dynamics and quality differentials is crucial for navigating the coriander market successfully. According to market analysts, coriander prices are expected to gain momentum as the market moves towards recovery, fostering a dynamic trading landscape.