Harvest Trends and Arrival Scenario
The ongoing harvesting of early sown coriander crops in Kota, Rajasthan, and Gujarat marks the commencement of increased arrivals in the market. Trade analysts predict a steady rise in the supply and availability of coriander in the coming days, albeit with low offtake. Consequently, price escalations in the near term seem unlikely. While domestic demand remains normal or slightly subdued, the stability or strength of coriander prices hinges largely on export performance.
Regional Variations in Production and Market Response
The Ramganj market in Rajasthan witnesses a continuous influx of new coriander, with daily arrivals averaging between 5000-5500 bags. Additionally, a sizeable quantity of old coriander, ranging from 1500-2000 sacks, supplements the market supply. Regionally, Madhya Pradesh observes a slight increase in coriander sowing area, while Gujarat experiences a significant decline, with Rajasthan maintaining production levels similar to the previous year. Furthermore, minor crop damage due to natural calamities also affects market movements.
Export Trends and Price Indications
Despite a 43 percent decrease in coriander production area compared to the previous year, there’s a restrained approach to selling coriander from Madhya Pradesh and Rajasthan due to depressed prices. The delay in arrivals is deliberate and aimed at stabilizing market conditions. Coriander prices in the Ramganj market hover at $0,82 or €0,75 per kg, with strong demand observed during Ramadan in Gulf countries. However, in Delhi, prices surge, reflecting localized market movements. Notably, coriander exports have surged significantly, tripling from 28,405 tonnes to 81,046 tonnes in the first eight months of the current fiscal year (April-November 2024). Despite robust export performance, opportunities for further growth are anticipated.
In conclusion, the surge in arrivals poses a barrier to increasing coriander production. As harvesting progresses in Kota, Rajasthan, and Gujarat, the market experiences an uptick in coriander supply, influencing future prices. While regional variations in production persist, with minor crop damage reported due to natural calamities, export trends remain promising. Despite price disparities across markets like Ramganj and Delhi, coriander exports have significantly increased, stressing overseas demand.