Short-Term Stability with Long-Term Prospects In Coriander Market

Mintec Global
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Overview of the Market

Coriander prices have recently hit a low point and are expected to remain stable in the short term, with the potential for an increase in the coming months. Experts in the field have provided insights into the current and future trends of the coriander market.

Current Market Conditions

As of now, coriander prices are quoted nominally for the benchmark Eagle Quality Sortex. The supply and demand cycle for coriander has stabilized prices at this level. Despite low prices, sales remain subdued, and the market is witnessing minor temporary fluctuations.  There is currently a substantial stock of both old and new coriander in the market, which is contributing to the lack of significant price movement. Farmers and traders alike are holding large stocks, making it difficult to estimate the total supply accurately. Additionally, domestic prices are low, and there is minimal export demand, further limiting any potential for import trade. 

Regional Supply and Trade

The supply of coriander varies across different regions. For instance, the daily revenue of coriander in various centers such as Guna, Kumbhraj, Ashoknagar, Naucham, Ramganj Mandi, and Kota ranges from 1500 to 8000 bags. In total, Rajasthan and Madhya Pradesh are seeing a daily intake of 20,000 to 25,000 bags. However, the demand from southern regions is limited, with most of the trade occurring from Gujarat. Even though there is some sporadic export demand, the majority of the trade is confined to domestic markets. An expert highlights that while there are no significant ups and downs in the coriander market, prices fluctuate. The large carryover stock from previous seasons keeps prices relatively stable. Nonetheless, depending on weather conditions and future crop planting, there is potential for an increase.

In the long term, demand for coriander is expected to rise, particularly after the monsoon season. A source anticipates that coriander prices could increase minorly in the upcoming months. This forecast is based on the expectation that demand will pick up once the monsoon begins, reducing the current oversupply situation. Another trader supports this outlook, predicting that coriander prices could rise between June 15 and August. They note that current prices are unlikely to drop further, as the demand is expected to increase after the rains. This increased demand, combined with the expected reduction in revenue at various centers, should lead to a gradual price increase.