In the vast marketplace of coriander, a rather peculiar narrative is emerging— one that carries the scent of bearish undertones. A symphony of circumstances, driven by farmers’ increased sales, is orchestrating an uptick in coriander arrivals across key producing states. Yet, this harmonious rise in supply starkly contrasts the muted tone of sales. Consequently, the once-promising prospects of soaring coriander prices are now dancing to a more somber melody.
However, a twist in the tale emerges as farmers flood the market with their coriander produce — well before the new crop sowing season commences in roughly a month and a half. This early deluge has spurred a notable surge in coriander arrivals within Madhya Pradesh and Rajasthan, both celebrated hubs of coriander cultivation. On the flip side, stockists are choosing restraint in their coriander acquisitions, opting for a subdued approach.
The aftermath of this recent flurry?
A gradual amping up of coriander arrivals, with market reports citing approximately 2000 bags in some areas, rising to a notable five to six thousand bags in the bustling Ramganj market. A similar upswing has reverberated in Madhya Pradesh and Gujarat. While initial murmurs hinted at an impending dip in Rajasthan’s coriander production, the present surge in arrivals is a compelling counterargument.
However, where arrivals have swelled, prices have dwindled. Markets like Ramganj and Baran witnessed a dip in coriander rates due to stockists’ fervent buying, resulting in a recent decline. Even the wholesale grocery market in the capital hasn’t escaped the downturn, with Coriander Badami witnessing a recent dip.
Unveiling a different facet of this narrative, the Spices Board reports a surge in coriander exports for the first three months of the current financial year 2023-24. An impressive 49,173 tonnes have been exported from India during this period. Comparatively, last year’s same timeframe bore witness to a mere 11,289 tonnes. As temperatures drop around Dussehra, farmers traditionally set the stage for the new coriander crop. This ritual marks the ebbing of enthusiasm surrounding the prospects of rising coriander prices in the days to come, leaving an aroma of uncertainty in the spice bazaars.
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