Commodity Insights: Coriander

Domestic Market Highlights

  • Currently, the crop supplies in domestic markets have started reducing. Earlier in the month of March, the arrivals were around 1 lakh bags, now it has reduced in most of the domestic markets. The total arrival in Madhya Pradesh is estimated to be around 25-30 thousand bags and in Gujarat around 15-16 thousand bags estimated.
  • Around 10-12 thousand bags are arriving in local markets of Rajasthan and prices are trading in a range bound manner. Currently, Coriander prices of Badami variety quoted around Rs 6500-6800 per quintal, Eagle variety prices quoted around Rs 7000-7500 per quintal, and Scooter variety prices traded around Rs 7500-7800 per quintal.
  • The buying activities from the Spice (Masala) companies have reduced and around 80 percent of buying was already done during April. Now, the remaining 20 percent would be undertaken as per requirements.  
  • As per market sources, this year there is a good quantity of old stock remaining with traders and farmers of Gujarat. Currently, good buying for the southern based mill is going on. Trade sources are expecting the current prices to remain range bound and in the month of July-September period prices are likely to get good support from export demand.   
  • As per trade sources, the new crop harvest in Madhya Pradesh is estimated to be around 40-50 lakh bags. In Rajasthan the new crop size is expected to be around 15-20 lakh bags and in Gujarat the new crop size would remain around 45-50 lakh bags. So, a total of around 100-120 lakh bags are estimated in the country.
  • On the export front, Coriander seed exports this year were good and significant growth in exports has been registered so far. As per the Ministry of Commerce & Industry latest data, Coriander seeds exports during April-March 2024 period have increased significantly by 118.63 percent at 96,390.65 tonnes as compared to 44,088.13 tonnes during April-March 2023. Significant increase in exports is reported to Bangladesh, China, United Arab Emirates, United Sates of America, Algeria, Sri Lanka, Australia, and Yemen.

Current Market Scenario & Price Outlook: The current domestic market sentiments have slightly weakened as most of the buying from Spice (Masala) Industry is done during March to April month and are currently buying as per need. The arrivals pace has started reducing in domestic markets against steady buying demand from traders. As per sources, good quantity of old stock is available in most of the markets in Gujarat and steady buying from southern India Spice (Masala) is noted. Fundamentally, the short to medium term period prices outlook looks range bound. However, price might get some good support from export demand during July-August period.

PRICE TREND VS SEASONALITY: MAJOR MARKETS

Coriander Seed Export: Major countries

Coriander Area and Production Trend

Coriander (FAQ) Prices in Domestic Markets

Disclaimer:
This report is prepared by “agribazaar”. Information and opinions in this report have been taken from publicly available data and from sources believed to be reliable. Neither the report nor any part of the report shall be replicated without the written consent. agribazaar does not make any representations or warranties in relation to the accuracy, completeness and correctness of data or information contained in this report. Use of the data, information or opinions contained in this report is at the sole risk of the recipient of this report, and any such data, information or opinion should be independently verified. agribazaar, its affiliates, their officers, directors, and employees shall not be responsible for any loss or damage that may arise to any person from any error in the data, information or opinion contained in this report. “agribazaar” 2024.

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