New Coriander Has Arrived In Market
The coriander market, particularly in key regions like Ramganj Market in Rajasthan, is witnessing a significant increase in the arrival of new coriander. Clear weather and attractive prices are encouraging farmers to swiftly sell their crops, resulting in a boost in market activity.
The latest reports indicate a notable surge in the arrival of new coriander, with Ramganj Market alone seeing an influx of four to four and a half thousand bags. This trend is not confined to a specific region, as other major markets are also experiencing a rise in the arrival of this aromatic herb. Higher arrivals and positive expectations for a robust new crop influence the market sentiments.
Market Movements and Crop Estimates
Despite the recent surge in the local wholesale market, the prices of coriander varieties like Coriander Badami, and Eagle have experienced a dip. The prices for Badami Coriander and Eagle remained stable due to sluggish buying by stockists. Traders report the weakening demand has contributed to the current pricing fluctuations.
The coriander crop forecasts reveal varying estimates across different states. Madhya Pradesh anticipates a bumper crop of around 120 percent, while Gujarat expects a more conservative 50-60 percent. In Rajasthan, the coriander crop is projected to reach 100-110 percent. These estimates suggest that the production of the new coriander crop might align closely with the previous season’s levels, indicating a substantial supply.
Challenges on the Coriander Charts
The outstanding stock of the old coriander crop is reportedly higher than initial forecasts. As the new season starts with a stock of around one crore bags, including the old stock and the new crop, the estimated availability reaches around two crore bags. However, with the total consumption of coriander in the country hovering around one crore bags, an intermittent decline in wholesale prices is observed. Traders anticipate a potential further recession, especially when the arrival of the new coriander crop reaches its peak, which is anticipated towards the end of the current month or in the first fortnight of March.
In conclusion, Ramganj Market witnessed a surge in fresh coriander arrivals, reaching four to four and a half thousand bags. This trend extends to other major markets. Despite fluctuations, prices of coriander varieties remain stable amid sluggish buying. Forecasts predict mixed crop estimates across states while challenges loom due to anticipated market recessions.
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