Commodity Outlook – Coriander Seed

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

Key growing regions:

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

Production trend and Stock position:

  • Stock positions of Coriander seed were up by 8.20 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Gondal and Kota locations. The stocks held as on June 10, 2019 was 7,189 MT compared to 6,644 MT as on June 03, 2019.
  • As per Agriwatch website second advance production estimate of Coriander seed production for 2019-20 is estimated at 2,68,957 MT down by 19.32 percent compared to previous year’s 3,33,348 MT.
  • Arrivals for the month of June (till June 20, 2019) of Coriander seed have reduced in mandis compared to the last two months.

Note: May Mandi arrivals are for the period: 1 – 20 June, 2019

Prices of Coriander seed are currently in a Backwardation where the physical market Spot prices are above the expected Futures prices.

Market commentary: Price outlook

  • Coriander Seed prices in physical markets have been trading at higher levels since the last two months and a price correction may be expected in the immediate / short term.
  • Coriander Seed prices are expected to trade on the downside from current levels of Rs. 7,300.
  • Rs. 7,500 per quintal to below Rs. 7,000 per quintal levels.

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