According to industry experts, the spice market is about to witness a spice-tacular transformation in coriander prices. With the scarcity of green varieties and a surge in investment demand for spices like cumin, fennel, and fenugreek, coriander prices are set to go through the roof in just a month. This spicy forecast comes when coriander bags are strutting into Madhya Pradesh shops at a slower pace due to farmers getting their hands dirty with sowing activities after the blessing of good rains. The shortage of the finest green-quality coriander is spiraling out of control, fueling the fiery market imbalance.
Breaking all the records
But hold your spice jars tight because coriander’s export scene looks hotter than ever. It’s estimated to reach a sizzling high of 50,000 to 60,000 tonnes this year, breaking all previous records. Demand from Gulf countries, China, Malaysia, and the recent entry of Bangladesh into the spice arena has spiced up the outlook even more. And as if that wasn’t enough, the new crop of coriander from Russia, coming our way in July-August, is likely to spice things up even further.
This savory scenario, coupled with increasing domestic and export demand, is like adding more spices to the pot and stirring the price rise to perfection. The domestic market is spicing up nicely, thanks to recent rains, while coriander arrivals have gone for a toss as farmers have their hands complete with sowing activities.
As scarcity of the green variety, investment demand and export opportunities are about to create a flavor explosion. This ever-evolving landscape serves up a blend of challenges and opportunities, making it essential for stakeholders to spice up their market strategies and keep a keen eye on the changing dynamics.