Indian Coriander market stays steady

The coriander market is currently holding steady and firm despite last week’s price drop. Ramganj market was closed due to the death of an Indian singer Lata Mangeshkar.

Current Scenario 

• Last month witnessed quite a few price hikes in all the Coriander varieties due to the tremendous demand.
• Farmers and stockists, as a result, started releasing their products because of the higher prices in the spot markets across India.
• The increase in the price has led to the buyers becoming inactive last week, putting pressure on the price again.
• According to the market experts, the price holds steady for Coriander due to low stock levels from the previous year, which has made buyers active again.
• Also, the decrease in the overall production of the crop has made the buyers active.
• New crops have arrived in Gujarat spot markets.
• The new crops’ arrival is 15 to 20 days late due to the late sowing of the crop. Coriander is sown after the harvest of cotton and groundnut.
• The moisture content is reported to be between 12 and 15 percent. But as the temperature rises, it is expected to get lower.

Arrivals 

Earlier in the Gondal market, about 500 bags arrived every day.

The average weight of the bag was 40 kgs.

Prediction 

• It is reported there is an overall low production of Coriander. 
• As of December 27, the Gujarat Agricultural Department has stated the crop sowing size is down from last year’s 135,563 hectares to 125,171 hectares.
• Altogether, the coriander-producing states, i.e., Gujarat, Rajasthan, and Madhya Pradesh, are sowing 10 to 15 percent less crop than last year.
• It is expected that the low stock and the reduced crop sowing will make the market bullish in the upcoming days.
• The prices may go up by $10,71 to $13,39 per 0.1 ton.
• The overall production of Coriander for 2021-22 is expected to be about 342,435 MT compared to 2021’s 352,316 MT.

Prices

It was reported the average auction price for Coriander in the Gondal spot market was between $93,55 and $113,59 per 0.1 MT.

The price trend was the same for all the other varieties, i.e., Coriander Eagle 100% Split, Coriander Single Parrot, Coriander Double Parrot.

Coriander Eagle 5% Spilt

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