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India: Coriander Prices Moves Up With 4% Jump In Future

by | Dec 8, 2021 | Coriander, Spices

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The spot markets in Gujarat and Rajasthan were up amidst good demand for the product. The current market trend is bullish after it experienced a significant price slump on two consecutive days at the beginning of the month.

Market Trend 

The good demand from the local processors and mills has helped the price of Coriander go up from the slump it was facing last week. As a result, during the trade on Monday, the future of Coriander jumped by 4 percent.

According to the brand and quality of seed, it was reported that the price increased between $0.13 and $3.98 per 100 kg.

Both Eagle and Badam quality were reported to have traded for a good price in this week’s Kota spot. Eagle was traded between $0.98 and $1.02 per kg, which was $1.99 higher than regular. Similarly, Badam too was reported to have traded by $1.99 higher, where the price was between $0.96 and $0.98 per kg.

In the Guna spot market, the benchmark of Madhya Pradesh, Scooter brand was sold between $1.06 and $1.12 per kg, which was higher by $0.04 per kg.

According to experts, the market is bullish due to the slow sowing process in the Coriander-producing regions. Due to this, the stockists are not releasing their existing stocks. With the processors getting active in the market and the limited supply of the crop, the prices are getting firmer.

It has also been reported that the crops getting to the market are either damaged, of low quality, old or defective. 

Based on the trend, the bullish nature of the market for Coriander is expected to continue.

Price

Price Charts

Coriander Eagle 5% Split

Date Price
December 6 $1,15 per kg FOB
December 2 $1,14 per kg FOB

The trend was the same for all the other coriander varieties during this time.

In the NCDEX, the future of Coriander for December was closed at a gain of $0.05 per kg, which is 4.63% more than the last session during the same time. For the month of January and April, the price was closed at $0.04 and $0.03 per kg.

Furthermore, the spot market prices in Gujarat were up by $0.66 to $1.33 per kg.

In the spot markets of Rajasthan and Madhya Pradesh, the price was high by $2.66 per kg.

Prediction 

The actual sowing area or expected production of the crop is ambiguous. There has been a report of crop damage in the sowing due to the heavy rain and unfavorable weather. There is a slowdown in the sowing of Coriander, too, due to the heavy rain the Coriander seed production regions faced.

Furthermore, with different figures reaching the market about Coriander cultivation, the prediction about crop production is getting difficult. The government figures show more crop sowing the business, and farmers’ data are showing less.

Earlier, it was reported that there had been a significant lowering of the stock in the market for 2021-2022. It is estimated 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.

However, as per some market experts, only after a fortnight the picture about the sowing area of the crop can be reported.

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