MUMBAI – It is estimated that by August 15, there will be a rise in the coriander price by $0.13 per kg. Already there has been a rise of $ 0.067 per kg for coriander. In the next three weeks, i.e., August 15, there will be an $0.067 per kg increase again. The current price for coriander seeds with 5% splits is currently at a price level of 0,95 USD/kg FOB India.
The reason for coriander prices to go on a steady rise very soon is due to the record low of carrying forward stock in this season. Also, due to the coronavirus pandemic and the lockdowns that ensued, consumers are in hand-to-mouth mode. As a result, most of the godowns are empty now, but with festivals coming up along with the wedding season, there will be a steady rise in the demand for coriander.
It is expected that the demand for coriander is going to double. Furthermore, Russia, Ukraine, Bulgaria, and India produced less than the expected coriander amount due to the coronavirus pandemic. The lack of production in these countries has resulted in higher export prices for coriander apart from India.
As a result, the chances of importing coriander from any of these countries is minimum; hence, the domestic product price will go up in the coming weeks.
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