Coriander prices expected to improve as festival and export demand increases
14-Aug-2024 05:39 PM
Kota. Coriander prices have been softening for some time now, due to which producers have slowed down the pace of unloading goods in the markets.
Due to priority given to cumin cultivation, this time the area of coriander in Gujarat had decreased considerably, but in Rajasthan the area was almost equal to last year and slightly higher in Madhya Pradesh.
At present, limited arrival of coriander is being made in the important markets of major producing states, but despite this, its price remains soft or stable due to weak demand and lifting.
According to trade analysts, there is a possibility of festive demand for coriander in the coming time, which may provide some support to the market.
Along with this, there is a possibility of export demand in it, which may provide some support to the market.
Along with this, export demand is also expected to increase. Foreign importers are expected to be interested in buying coriander at lower prices.
There is a good stock of coriander in the country right now, so there will be no problem in meeting domestic and export demand.
Its sowing is also going to start in October-November. If the market does not pick up, then the enthusiasm and attraction of farmers towards its cultivation may decrease.
On an average, 3000/3500 bags of coriander are arriving daily in Ramganj Mandi of Rajasthan and about 1000 bags in Baran Mandi, while due to weak business, there is no atmosphere of rise in prices. Some increase is expected in the future.
The data of the Spices Board shows that in the first two months of the current financial year i.e. during April-May 2024, 11,547 tonnes of coriander was exported from the country, which earned an income of Rs 118.93 crore.
In comparison, during April-May 2023, 36,933 tonnes of coriander was exported and foreign exchange worth Rs 290.45 crore was received from it.
According to critics, the price of coriander will depend on its domestic and export demand. With the increase in the activities of traders and exporters, it is possible that the bar may become bullish and strong.