After the earlier last month’s price slump, Coriander prices have been steady with gradual improvements throughout the previous month and earlier this month. Despite the market being closed for the Diwali festival, good local demand enabled the crop’s price to remain steady once the market opened on November 8.
It is believed that earlier low prices, i.e., in October, have led to local traders buying and stocking it up for the upcoming days. With the lowering of the 2020-2021 stock, the purchase will continue, thus making the market appreciative of the price.
It is expected that for the prevailing price, new orders from the South mills will soon start. Even traders supplying the crop to Bihar, Maharashtra, and Bengal will start their purchase as the trucks have started operating post the festival. There are also reports of buyers becoming active in UP’s spot market like Kota, Gondal, Ramganj as these areas now have a good quality crop.
The moisture content due to the last few month’s heavy rains will also determine the price and purchase of the crop and the activity in the market. Last week, i.e., before the Diwali festival, there was a report of less demand for the Upper-Grade Coriander variety. Still, now with the market and the buyers becoming active, it remains to be seen how the crop performs in the coming days.
Farmers are also waiting for the prices to go up before releasing their crop to the market since they know the spice production is less, and the prices will increase.
Coriander Eagle 5% Split
|November 10||$1,00 per kg FOB|
|October 28||$1,09 per kg FOB|
Coriander Eagle 100% Split
|November 10||$1,065 per kg FOB|
|October 28||$1,060 per kg FOB|
For both types of Coriander Eagle, the prices remained steady till November 10 after the price increased on November 1.
Coriander Single Parrot
|November 10||$1,39 per kg FOB|
|November 1||$1,31 per kg FOB|
Coriander Double Parrot
|November 10||$1,54 per kg FOB|
|November 1||$1,46 per kg FOB|
Both the types of Coriander Parrots, i.e., Single and Double, continue with the same price after it experienced a price increase on November 2.
Coriander was fetching a reasonable price to the farmers and traders, increasing the crop’s sowing areas compared to its prices last year. However, it remains to be seen how much acreage for the crops will increase after the sowing completes. The sowing has started for the new crop during the last week of October.
According to the market analysts, there has been a significant lowering of the stock for the years 2021-2022. It is estimated that the production of the new crop will stand around 342,435 MT compared to last year’s 352,316 MT. This will likely support the coriander prices in the market in the coming days. Moreover, with the transportation system getting back to standard post the Diwali festival, the spice demands are expected to increase from South and Bihar mills and Bengal and Maharashtra markets, which will keep the price firm for the commodity in the coming days.
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