Due to the bumper sowing of coriander the price will be meager in the new season. If farmers reduce the sowing in the next season, the cost will increase. Till then, the speculators are in the mood to hedge coriander.
Current Scenario
No one is currently interested in buying Indian coriander from the local market abroad due to the belief that the crop will be more than 75% of last year. The carry-forward stock of coriander has been predicted to be very low for a long time, but now 1.5 million bags of coriander are expected to remain carry-forward in the new season. There is an estimated stock of 2.0 to 2.2 million bags of coriander in the country.
Since production is so high, there are no chances for a turnaround. Indonesia, Malaysia, the Philippines, and the Middle East used to buy coriander from India, but this is no longer the case because Russian coriander is cheaper.
Future Scenario
Like other spices, there was an assumption that the demand would emerge during Ramadan. Still, the need for Ramadan has not appeared in the coriander as per the speculation. Everyone is waiting for the price to decrease further after the arrival of the fresh coriander starts. Due to the forecast of 1.5 to 2.5 billion sacks of coriander crop in the new season, only speculators are interested in buying coriander at lower rates for hedging. Apart from this, not a single section is interested in purchasing coriander.
The Coriander seeds prices were Recorded at $1,15 per kg FOB.
Please click to reach our marketplace