New Coriander Season
The market has begun to witness an influx of new coriander crops, particularly noticeable in Ramganj Mandi, Rajasthan, along with other significant markets. Industry insiders have reported that this new arrival is starting to impact market sentiment, fueled by survey results indicating a promising harvest. Despite these developments, the wholesale prices of coriander have remained stable for the time being.
Price Adjustments Amidst New Arrivals
Local wholesale grocery markets have seen a modest increase in coriander prices, with varieties such as Badami and Eagle climbing by USD 1,21 to USD 0,95/0,96 and USD 0,98/1 per kg, respectively. This adjustment follows a recent downturn of USD 2,41-3,62 across major grocery commodities. Market dynamics are beginning to shift with the increased supply of new coriander, coupled with the anticipation of a bountiful crop.
Detailed Market Reports from Rajasthan
In Ramganj Mandi, a notable hub for coriander trade, around 13,000 to 14,000 bags of coriander were reported to have arrived, with new coriander making up about 11,000 to 12,000 of these. Despite the significant influx, prices for Badami and Eagle coriander have remained steady at USD 70,00/72,50 and USD 74,80/77,20 per quintal, attributed to the high supply levels meeting subdued demand.
Similarly, Baran Mandi has seen the arrival of approximately 1200 to 1500 bags of both new and old crop coriander. The latest reports indicate a modest introduction of 100 to 150 bags of the new crop, maintaining price levels for both Badami and Eagle varieties.
Survey Insights and Crop Projections
Recent surveys have painted a mixed picture of the upcoming coriander crop across different regions. In Madhya Pradesh, the crop yield is expected to surpass previous figures by around 120%, while Gujarat’s forecast suggests a more modest 50-60% yield. Rajasthan’s projections are also optimistic, expecting a 100-110% yield. These figures suggest that the new coriander crop could match or exceed the volume of the previous season, with national production potentially reaching around one crore bags.
Stock Levels and Market Impact
The current stock of old crop coriander is reportedly much higher than initially anticipated, contributing to an estimated starting stock of one crore bags for the new season. With the addition of the new crop, total availability could reach around two crore bags. However, this substantial supply faces a national consumption rate of approximately one crore bags, hinting at potential price reductions as the new crop continues to enter the market.
Future Market Outlook
Market analysts predict intermittent price declines as the new coriander crop arrivals intensify. The peak of this arrival is expected in March, potentially leading to further market softening. As the new season unfolds, traders and consumers alike are keeping a close eye on how these dynamics will unfold in the wholesale coriander market.