Current Market Developments:
- Coriander seed prices in most of the spot markets have declined in last fortnight as processors and bulk buyers were reluctant to buy at higher rates. Supplies in spot markets have remained steady against subdued demand.
- On a daily basis around 2-4 thousand bags in Gujarat, 7-8 thousand bags in Madhya Pradesh and in Rajasthan 3-4 thousand bags arrivals were reported in spot markets.
- Currently, demand from spice (masala) mills have remained low as they have sufficient stocks with them. Moreover, traders and stockiest are selling their stocks in spot markets on every opportunity. The normal to excess monsoon rainfall witnessed in Rajasthan, Gujarat and Madhya Pradesh have also kept market sentiments slightly weak.
- As per market sources, Coriander stock in the country is around 45 lakh bags out of which 10 to 12 lakh bags is with farmers and local traders. Around 25 lakh bags are with Spice mills and around 10 lakh bags with stockiest and retail traders. Currently, there is sufficient stocks with spice (masala) mills and retail counters so there is less chance of good demand to arise in September month however, from October onwards coriander demand is likely to improve in spot markets. The new coriander crop is expected from next year mid-February 2023.
- At the international front coriander exports have declined from India as Russian coriander is available at lesser rate in international market and also due to tight domestic balance sheet. As per Ministry of Commerce and Industry data, coriander exports during Apr-Jun 2022 have declined by 24 percent at 8,760 tonnes as compared to 11,556 tonnes last year same period. However, coriander imports in the country have increased significantly by 239 percent at 9,992 tonnes as against 2,948 tonnes same period last year.
- According to the Spice Board of India, Coriander production in 2021-22 is estimated to decline by 10 percent at 8.00 lakh tonnes as against 8.91 lakh tonnes in 2020-21 period.
Coriander (Dhania) Price Trend Vs Seasonality at Key Markets
Coriander (Dhania) Area, Production and Yield: India & Major States
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