International business of Russian Coriander starts but business does not happen due to the condition of payment terms. Rapid growth is possible in the short term, but strong growth is likely to happen after September.
Demand in international market is usually less every year this time due to the summer vacations in Middle East, Far East, European countries and America in July-August. In the month of September, it is expected that demand may arise of Indian coriander in all these countries. Russian exporters have started offering new crop coriander in the international market. Russia currently offers coriander at $850 per tonne but due to advance payment terms Indian importers have not closed the deals. Coriander crop of Russia is said to be normal and the quality is good. But all Importers are also reluctant to buy due to war between Russia & Ukraine.
Harvesting of Bulgarian coriander has started, but due to non-availability of coriander in the warehouse, the exporters are not offering the prices at present. The price of coriander of Bulgaria will be available after August 20th, 2022.
The crop of coriander in Spain is 1500 to 1600 tonnes, out of which 300 tonnes will be exported, its price is $1500 per tonne, but the Spanish coriander mostly goes to European countries. The offer of coriander from Syria is around $1475 per ton.
Coriander crop status in Ukraine is still uncertain. Turkey has signed an agreement between Russia and Ukraine to start exporting grain, in which Ukraine’s exports of wheat and corn will be more. There is uncertainty about the export of coriander.
The price of Indian coriander is being quoted from $1650 to $1750 per tonne in the international market. Traders state that Malaysia is the biggest customer of Indian coriander, if Malaysia gets cheaper coriander from Russia, then they will reduce buying from India.
Due to the low stock of coriander in the Indian market, there is no possibility of recession from the current price, also there is no possibility of any major uptrend till the end of September. At present, the price of coriander is expected to remain range-bound.
The Coriander Eagle 5% Split prices were Recorded at $1,63 per kg FOB.
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