The overall sentiment for the coriander market across India continues to be bearish from the beginning of the month. The arrival of the new crop is more than the demand, hence putting pressure on the spot markets.
Current Scenario
- Most spot markets are having the arrival of new crops. Mainly it started at the Gondal spot market of Gujrat.
- The arrival was reported to be 500 bags on average every day.
- The auction price ranged between $93,48 and $113,51 per 0.1 MT.
- The current moisture content in the new crop is estimated to be between 12 and 15 per cent.
- The arrival of a new crop is delayed by 15 to 20 days because of the late sowing of the crop.
- Buyers are inactive since the new crop has high moisture content.
- They are eager to know the condition of the new crops before they go ahead with purchasing the stock.
- The new crop will also start arriving in the spot markets of Madhya Pradesh and Rajasthan in the next ten days in limited quantity.
Prediction
- According to experts, the buying activity will increase in the coming days as the moisture content decreases in the new crops.
- Also, the increased demand for the crop due to the arrival of Ramadan will boost the buying activity.
- Lowering the stocks for the market year 2022-23 will also help the prices move upward.
- Currently, the weather condition is favourable for the standing crops. However, any unseasonal rain or cold wave will damage these crops.
- Lowering the overall coriander production is likely to make the market appreciative this year for the spice.
Price Trend
- On February 1, the coriander market was between $0,67 for split and $1,34 per kg for double parrot quality across major spot markets.
Coriander Eagle 5% Split
| Date | Price |
| February 3 | $1,23 per kg FOB |
| February 1 | $1,24 per kg FOB |
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