Despite the coriander market being stable last week, the market opened and closed on a downward trend on Monday. So far, this month has witnessed a mixed trend for the spice.
Current Scenario
- This year, the market will have 6,5 million bags of cumin. Out of which, 1 million bags from Rajasthan, 2 million bags from Madhya Pradesh, and 3,5 million from Gujarat.
- The carry-forward stock is expected to be about 2 million bags. As a result, this year, India will have 8.5 million bags of coriander.
- This figure is considerably low given the consumption is between 13 to 13,5 million bags.
- Reports suggest that the low production will also impact coriander export. Typically, the export quantity runs between 1 to 1,2 million bags every year.
- This year, the spice availability for export is about 500 to 600 thousand bags.
- The low production of the crop will see a significant price increase for the crop in May and June. Generally, the market goes on an appreciative mode every year for the spice in June – July, but it will not be the same this year.
- The recent price correction is due to the increase in the arrival of the new crop every day.
- Gujarat receives 60 to 70 thousand bags, Rajasthan gets 20 to 25 thousand bags, and Madhya Pradesh gets 35 to 40 thousand bags.
- Market experts believe that the coriander price can increase. In May, it can increase to $1,95 to $2,09 per kg, and in June, it can move up to $2,35 per kg.
The market will stay bullish for the commodity in the long run due to the product’s high demand and low yield.
Price Trend
Coriander Eagle 5% Split
| Date | Price |
| March 14 | $1,50 per kg FOB |
| March 10 | $1,52 per kg FOB |
| March 7 | $1,51 per kg FOB |
| March 3 | $1,52 per kg FOB |
| March 2 | $1,49 per kg FOB |
| February 28 | $1,46 per kg FOB |
For more information, facts and figures, become a member. Click here.