Current Market Developments:
- Estimation of lower coriander crop this year and also low carry forward stocks has kept domestic prices strong in spot markets of Rajasthan, Madhya Pradesh and Gujarat.
- Currently, traders and stockiest are buying as per there immediate requirements. Coriander prices at Kota market increased by 0.63 percent, Jaipur by 0.44 percent, Rajkot by 2.28 percent and Gondal by 0.83 percent over previous week.
- Trade sources from Rajasthan, Madhya Pradesh and Gujarat are expecting buying demand from spice (masala) mills from southern India to improve in coming days.
- Coriander prices have increased in last 15 days tracking strong fundamentals as current crop production in major coriander growing states of Madhya Pradesh, Rajasthan and Gujarat is estimated lower as compared to last year. However, prices are under slight pressure due to arrivals of new crop in spot markets. Normally, around 50-60 percent of the crop arrivals are during March to May period.
- At the Global front, coriander production is also likely to decline in Syria, Bulgaria, Romania, Ukraine and Russia this year. So, there are high chances of a higher exports from India. According to the Ministry of Commerce data, Coriander seed exports during April-March 2021-22 stood at 37,894 tonnes as compared to 45,478 tonnes last year same period.
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