It was expected that with the arrival of the festivals, there would be an improvement in the coriander prices. Still, unfortunately, the trend of the costs for the spice continued ton Tuesday, October 12.
Coriander Eagle 5% Split traded for $1,08 per kg FOB from $1,12 per kg FOB as reported on October 7. The price for all the other categories also dropped significantly on October 12 from last Thursday’s prices.
Coriander Eagle 100% Split’s price decreased to $1,04 per kg FOB from $1,08 per kg FOB. Coriander Single Parrot reported closing the market at $1,26 per kg FOB after dropping from $1,30 per kg FOB. Coriander Double Parrot’s price was reported to have decreased from $1,45 per kg FOB to $1,41 per kg FOB.
The price drop is believed to be caused due to the lesser demand for the spice, and also, there are no advance deals for the crop. It is reported that the advance deal for Coriander this season is 35 to 40 per cent less compared to last season.
Despite the arrival being limited in the markets, it is still higher than the demand, causing the price drop for Coriander. Coriander from retail stores, mills from South India, and even Bengal and Bihar are more miniature, causing the price drop.
The prices for Coriander across the mandis of Rajasthan, Gujarat, Uttar Pradesh, and Madhya Pradesh remained sluggish. The bags that arrived in Rajasthan for Coriander stood at 19,000. Gujarat recorded an arrival of 22,500 bags, while Madhya Pradesh reported the appearance of 24,000 bags. In Rajasthan, there were altogether 11,950 bags said to have arrived. In each of these places, the bags were estimated to have weighed 40 kgs.
The expectation that the buyers will be active due to the lower price has proved wrong for the coriander market this festive season.
The production of Coriander is expected to be less for 2021-22 as per the market analysts. Compared to last year’s production of 352,316 MT for 2021-22, the show is estimated to be around 342,435 MT.
Market analysts stated that compared to last year, the trading price for Coriander is higher this year, and this may increase the sowing area for the crop this year. The picture of the increase in the sowing area is expected to get clear by the end of October, when the sowing will start.
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