Coriander is predicted to maintain a steady course, with no significant peaks or declines. It can be attributed to excessive unseasonal rain in Madhya Pradesh and Rajasthan, resulting in a vast supply of inferior-quality coriander, which is well-received by those who use artificial color additives. As a result of the abundance of cheap coriander, there is almost no demand for good quality coriander at higher prices.
Current Scenario
Presently, Gujarat receives around 45-50,000 bags of coriander daily. It is estimated that around 4.0 million bags of coriander have been induced in the market out of the expected 8.0-8.5 million bags of coriander harvest. With less than 5000 tonnes of coriander deposited in the exchange, coriander is left undeposited due to the lack of parity in depositing. Despite this, the export demand for coriander is solid, with 10,000 bags being exported daily from Gujarat.
Future Scenario
In the future, despite the ruinous impact of rain on between 40-50% of Madhya Pradesh and Rajasthan’s crops, there will not be a spike in coriander prices since black-yellow colored coriander is readily available in large amounts at lower prices. Cheap Indian coriander has become popular and was sold on a large scale to Gulf countries, almost exclusively along with the previously imported Russian coriander.
Moreover, Indian coriander is anticipated to have good export demand until July-August, when fresh coriander from countries such as Russia, Ukraine, Bulgaria, and Syria will enter the market. The need for Indian coriander will increase from the last week of May to the Bakrid festival in June. Thus, considering the current circumstances, coriander will remain rangebound for a few days.
The coriander seeds prices were recorded at $0,92 per kg FOB.