Commodity Outlook – Coriander Seed

agribazaar November 23, 2020

Sowing period: October to December
Harvesting period: March to May
Crop season: Rabi

Key growing regions:

Madhya Pradesh – Neemuch, Mandsaur, Guna, Rajgarh, Shajapur
Gujarat – Rajkot, Surendranagar, Gondal, Junagarh, Jamnagar
Maharashtra – Mumbai, Nanded, Bhandara
Rajasthan – Ramganj, Kota, Jhalawar, Baran, Bundi

Production trend and Stock position:

Stock positions of Coriander seed were up by 7.54 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Gondal, Ramganjmandi and Kota locations. The stocks held as on November 19, 2020 was 3,509 MT compared to 3,263 MT as on October 11, 2020
As per Agriwatch website final production estimate of Coriander seed production for marketing year (MY) 2020-21 was estimated at 3.52 lakh metric tonnes (LMT) compared to previous year’s 2.68 LMT which was up by 31.34 percent.

Monsoon Update

For the country as a whole, Seasonal cumulative rainfall during this year’s southwest monsoon season upto November 18, 2020 was below Long Period Average (LPA) by 3%. Details of the rainfall distribution over the four broad geographical regions of India are given below:

Market commentary: Price outlook

Coriander Seed prices in physical markets are expected to be weak in the immediate / short term as according to media reports there has been subdued demand from market participants.
Coriander Seed prices are expected to trade from current levels of ₹ 6,500 per quintal to range bound.

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3 Comments

Reply Asik • 5 years ago

Dear agriwatch team,
I read your article on dhaniya it’s good information provided but I have doubt.

Carry over stock in Feb 2020 is 25 lakh bags and new arrival in 2020 is 3.52 lakh metric ton. That means total stock is 113 lakh bags.

Say 10 lakhs bags consumption per month. Feb to Nov is 10 months. Still 2.5 months to go for new arrival 2021.

Still 13 lakh bags only available???
That means too much demand is expected on Jan.

Why ncdex dhaniya price is reducing when stock is less???
1. Reply Mahesh • 5 years ago
  
  Yes, you are correct.
  
  Pls update demand of dhaniya
2. Reply Jyoti Sharma • 5 years ago
  
  Hi Asik.
  In answer to your question, NCDEX January 2021 futures expiry was the last contract this season and the next contract for Dhaniya (Coriander seed) will be in April 2021 because currently, the Rabi sowing season is in progress and between February to March is usually a lean period.
  If there is less demand in the market, it would result in the fall in prices as seen in Dhaniya (Coriander seed), as the futures prices are commonly based on the fundamental of active number market participants which drive the movement of prices and in the physical markets it depends on the buyers ready to buy a particular commodity against the number of sellers or vice versa.
  Feel free to write us at info@agribazaar.com or call us. Thanks! 🙂