Cilantro saw a good start as the charts remained strong in the initial days, and a gradual uptrend with minor de-growth was witnessed until February. In March and April, the commodity peaked as the charts indicated a constant northward rally, but the bull trend fell in May and remained in a consolidated mode in June. After being rangebound for over a month, the prices hiked in July and August. However, the last months of the current year didn’t prove to be fruitful for coriander as it started decreasing from October and remained in slippery mode until December.
January-April
The prices were good for cilantro in the beginning as the crop demand was good, but there was a shortage in supply. Thus, it supported the charts; later, the same trend was witnessed in February as the stock arrivals were of high-moisture content, which led to an increment in the demand for good quality crops. Also, it fell because most coriander crops were damaged due to unseasonal rains. But the demand kept roaring, and thus March and April witnessed a significant surge in prices as good quality crops started arriving in the market and stockists started stocking up goods in expectation of good returns.
May-August
After being in the bull run for a reasonable period, Cilantro took a brief pause and remained rangebound until June. It is because the demand was low as the goods were stocked by wholesalers and retailers. Later, the goods started arriving in July, and the news of the import of coriander came into the market in the same period. In August, the stockists also lost their interest in purchasing vitamin C-rich cilantro as it remained rangebound. In September, Cilantro fell dramatically due to an imbalance in the demand and supply ratio. There was no buying support for coriander as compared to the supply. The arrivals of coriander were much, and the Russian import was circulating in the market. The stock in the country was 5 million bags, and the assumed consumption was roughly estimated to be 3.5 million bags. Further, there was no exceptional export demand for cilantro as Syria, Romania and Bulgaria were giving head-on competition for Indian goods in the international market.
September-December
In the last months, from October to December, coriander was in turmoil, the commodity fell dramatically, and there was an atmosphere of anxiety among the people as the market was manipulated. Still, there was no demand for coriander at ground levels. Another primary reason for this is the Russian imports, which affected the local distribution of Indian coriander. There were hopes of recovery in December due to festivities and wedding season, but there was no buying support, even at low prices. Further, it also slipped due to the recent announcement by the central government that the interest hike by 35 points.
Overall, Cilantro saw a downfall as the year preceded. In its journey, it saw minor corrections due to various factors, but in a broad view, it decreased gradually. Finally, assimilating all the aspects, the veterans assume that until the next season, the coriander will remain in the same stage of steadiness. Nonetheless, further decline in prices will not arise, as coriander is standing at the point of saturation.
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