Weekly Review-Coriander

28-Sep-2024 08:41 PM

Coriander prices strong: No possibility of slowdown

New Delhi. During the current week, coriander prices were quoted strongly. Although at the beginning of the week, the arrival of coriander in the mandis of the producing centers was good, but due to good demand from spice manufacturers and local traders, the prices improved. At the end of the week, the arrival of coriander in the mandis of the producing centers was less. Sources say that in the coming days, the arrival of soybean, maize etc. will start increasing at the producing centers. While the arrival of coriander will decrease further. Due to which, the prices of coriander are expected to remain strong in the coming days.

Bullish sentiment

Informed sources say that there is no possibility of slowdown in the current prices of coriander. Because due to low prices, predictions are being made for sowing of coriander paddy in the producing states of Gujarat, Madhya Pradesh and Rajasthan this year. Apart from this, the arrival in the mandis will also remain weak. While there will be improvement in local and exporter demand. Due to which it is expected that during the month of October, the prices of coriander should rise by 400/500 rupees per quintal. The rise or fall will depend on the sowing report. By the end of October, sowing work will start at the production centers.

Prices rise

However, during the current week, the prices of coriander remained limited in the futures market. But in the spot markets, the prices of coriander were quoted with a rise of 100/200 rupees per quintal. In Rajasthan's main market Ramganj, the price of coriander eagle was quoted at 7000/7300 rupees with a rise of 100 rupees. While at the end of the week, the arrival was of 3000 bags. At the beginning of the week, the arrival was of 5000 bags. In Guna Mandi of Madhya Pradesh, Eagle price rose from Rs. 6600/7000 to Rs. 6800/7100 and arrival which was 15/16 thousand bags at the beginning of the week came down to 5000/5500 bags at the end of the week. In Gondal Mandi of Gujarat, coriander price rose from Rs. 6650/7500 to Rs. 6700/7550 and arrival which was 8000 bags at the beginning of the week came down to 4500 bags at the end of the week. In other Mandis also, arrival of coriander remained low at the end of the week. Incoming arrival is being estimated to decrease further in the coming days.

Sowing expected to decrease

Looking at the current market conditions, it is expected that coriander sowing is likely to be affected for the second year as well in the major producing states of Madhya Pradesh, Gujarat and Rajasthan. Sources say that due to low prices of coriander, farmers will give priority to sowing of crops like gram, mustard etc. It is noteworthy that in the year 2023, coriander has been sown on about 5 lakh hectares in the country. And the production was more than 1.5 crore bags. Whereas for the year 2024, the sowing area was 360/370 lakh hectares and the production was considered to be 1/1.10 crore bags.

Import

Despite sufficient production of coriander in the country, importers import coriander from abroad. Due to the light quality of coriander abroad, the prices remain cheap. Most of the imported goods are consumed in mixing. It is noteworthy that during the year 2022-23, 31383 tonnes of coriander was imported. Whereas in the year 2023-24, 28828 tonnes of coriander has been imported. Coriander is being imported from this even during the current season.

Export

The record export of coriander during the year 2023-24 (April-March) was 108624 tonnes. But in the first three months of the current season 2024-25, a decline in coriander exports has been recorded during April-June. According to the information received, the export of coriander during April-June 2024 was 17029.32 tonnes. Whereas in April-June-2023 last year, the export was 49173.76 tonnes. In July-2024, the export was 4383.43 tonnes while in July 2023 the export was 10473.45 tonnes.