Current Market Conditions in Major Coriander Hubs

In recent times, coriander has saturated the markets of major producing regions such as Ramganj, creating a striking visual of endless green. Despite this abundant supply, sales have not kept pace with the arrivals. Setting the stage for a constrained oscillation between market highs and lows in the near future.

Recent Trends and Export Challenges

Significant quantities of coriander are being reported in Ramganj, with daily arrivals of 40,000 to 50,000 sacks. Sales, however, are much lower, about 20,000 to 25,000 sacks, highlighting the supply-demand mismatch. This disparity was highlighted at a recent industrial and business conference in early March, where experts predicted a dip in this season's coriander production compared to the previous year. Following the announcement, wholesale prices initially increased but have since faced downward pressure due to excessive supplies.

Price Fluctuations and Future Market Predictions

Additionally, the change in weather at the start of the month has influenced wholesale prices, complicating the market dynamics further. Madhya Pradesh has seen a relatively higher sowing of coriander this season, in contrast to Rajasthan, where sowing levels are anticipated to mirror last year’s. Gujarat, however, is noticeably behind in coriander planting, leading to mixed predictions about the new crop's potential volume.

Regional Variations and Economic Impact

In Ramganj Mandi, Coriander Badami and Eagle varieties were trading at $75.60/$78 and $80.40/$84 per quintal, respectively. A recent price decline of about $3.60 to $6 has been observed. Baran Mandi reflected similar pricing dynamics. In contrast, the capital's wholesale market saw a slight increase in Coriander Badami prices to $100.80/$102 per quintal.

From April to December 2023, India exported 87,531.24 tonnes of coriander, generating revenues of approximately $9 million, a significant increase from the previous year’s 32,449.43 tonnes, which brought in $5.38 million. These figures underscore the volatile nature of the coriander market, which is likely to experience limited price excursions in the near future due to these varied influences.