Coriander has taken centre stage in the world of spices with a remarkable surge in just one and a half months, and more growth is on the horizon. As we delve into the insights from the experts, it becomes evident that Coriander’s journey in the export business has witnessed both highs and lows.
Despite the current monsoon and sluggish demand, Coriander’s export has soared 4 to 5 times higher than in previous years, providing a solid backbone for its growth. Notably, its affordable pricing compared to other commodities like turmeric, cumin, and fenugreek has propelled continuous buying, captivating investors and stockists alike.
With the prediction of an additional increase by mid-August, the demand for Coriander among stockists has peaked. However, a decline in Coriander sowing in states like Gujarat, Rajasthan, and Madhya Pradesh has surfaced, leaving speculations about the future of this spice. Compared to previous months, a substantial decline in coriander exports has raised questions about its long-term price stability. The arrival of groundnut and soybean in September may influence coriander prices, leaving spice traders anticipating a smooth course.
Coriander’s journey faces opportunities and challenges, with 150 containers imported from Russia for August-September shipment. While a promising long-term outlook awaits, present circumstances suggest that the price of Coriander will likely remain stable, supported by the demand for Russian imports. Coriander is set to play a significant role in the spice market, with promising returns expected in the long run. Yet, its journey is subject to market dynamics, including factors such as the earnings of commodities like cumin, turmeric, fennel, and more, that may influence its future trajectory.
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