Weekly Review-Coriander
26-Oct-2024 07:09 PM
Coriander sowing starts at production centers: Sowing likely to decrease in second year as well
New Delhi. Due to the recession in the prices of coriander, it is being expected that the sowing area of coriander in the country will decline in the second year as well. Because the producers are getting higher prices of wheat, gram etc., the farmer will sow coriander on less area. Coriander is mainly produced in Madhya Pradesh, Gujarat and Rajasthan.
Sowing
Informed sources say that sporadic sowing work has started at the production centers, sowing will pick up pace after Diwali. It is worth mentioning that last year also, due to farmers not getting fair price for their produce, there was a decline in the sowing area of coriander in the country. During the year 2023, coriander was sown on 4195 lakh hectares in the country, which decreased to 3.64 lakh hectares in the year 2024. According to the news received so far, sowing is expected to be 10/15 percent less. Coriander sowing has already started in Gujarat and Madhya Pradesh, while sowing in Rajasthan will begin after Diwali.
Fall in prices
During the current week, coriander prices remained low. Because spot and export trade remained limited. While coriander arrivals in Gujarat's mandis were higher than the previous week. However, arrivals in Madhya Pradesh and Rajasthan's mandis remained limited. Because the arrivals of maize and soybean in mandis have started increasing while coriander has started decreasing. Prices remained low in the futures market as well. November's coriander opened at Rs. 7490 in the futures market and closed at Rs. 7264 at the end of the week. December's coriander closed at Rs. 7498 after opening at Rs. 7732. Due to the low news of futures and the local falling demand, coriander prices in the spot markets were quoted at a low of Rs. 100/200 per quintal.
Prices may improve
Knowledgeable traders say that coriander prices may improve after Diwali. Because farmers will be busy in sowing coriander, the daily arrival of coriander in the markets will decrease. Also, due to the possibility of weak sowing, prices may rise. Due to the considerable decrease in prices, prices may also improve in the futures market from the next week. Sources believe that coriander prices may rise by 8/10 rupees per kg in the coming days because the arrival of new goods will start after 4/5 months. Currently, the price of Badami and Eagle quality of coriander is being quoted at Rs 6500/7500 in the markets of the producing centers.
Import
Despite sufficient production of coriander in the country, importers import coriander from abroad. Which is not a good sign for coriander trade. However, due to the low quality of imported goods, this imported goods go into mixing. And most of the goods are consumed in states like Bengal, Bihar etc. According to the data released by the Spices Board, 28828 tonnes of coriander was imported in the year 2023-24. Whereas in the year 2022-23, the import was 31383 tonnes.
Reduction in export and income
Coriander exports have decreased by 65 percent in the first four months of the current financial year 2024-25. A decline of 55 percent has also been registered in income. According to the data released by the Spices Board, 21074.79 tonnes of coriander was exported during April-July 2024 and an income of Rs 21604 lakh was received. Whereas during April-July-2023, 59647.21 tonnes of coriander was exported. And an income of Rs 47634 lakh was earned. Looking at the export performance so far, it is expected that coriander exports will decline during the year 2024-25 (April-March). It is noteworthy that during the year 2023-24, the record export of coriander was 108624 tonnes. Whereas in the year 2022-23, the export was 54481 tonnes and in the year 2021-22, the export was 48656 tonnes.