In India Coriander Stockists Worried as Prices Remain Below Expectations
Stockists Concerned Over Low Prices and Sluggish Demand
Coriander stockists across major producing states like Rajasthan worry as prices remain lower than expected. Traders express concerns that weak demand from exporters and local buyers causes stock to accumulate. As a result, the market is under pressure, with prices for coriander Badami staying between $0,98 and $1,00 per kg and Eagle coriander at $1,04 to $1,06 per kg. While there was a recent $0,012 increase per kg, the market remains sluggish with no significant price movement.Coriander Prices Remain Stable Despite Increased Supply
Ramganj Mandi, a key coriander trading hub in Rajasthan, sees an increase in coriander arrivals. About 4,500 to 5,000 sacks of coriander arrive daily, up from the previous 2,500 to 3,000 sacks. Despite this, prices stay stable, with Badami and Eagle coriander holding at $0,70 to $0,73 per kg and $0,73 to $0,75 per kg, respectively. Similar trends occur in Baran Mandi, where daily arrivals have increased to 1,200 to 1,500 bags, but prices remain flat.New Season Sowing to Influence Future Trade
Farmers in Rajasthan and Madhya Pradesh will begin sowing coriander after Dussehra, with only a month and a half remaining before the new crop season starts. Traders anticipate that the market will respond to the sowing activity in the coming months. According to Devishankar, a trader in Ramganj, farmers received good prices for their crops last season. As a result, they are unlikely to reduce coriander sowing in the upcoming season.Export Slowdown Contributing to Market Pressure
Weak export demand contributes significantly to current market struggles. Data from the Spices Board shows that only 11,546,61 tonnes of coriander, valued at $1,43 million, were exported during the April-May 2024 period. This is a sharp decline compared to the 36,932,86 tonnes worth $3,49 million exported during the same period last year. The reduction in exports continues to exert pressure on coriander prices.The coriander market remains under pressure as weak demand from exporters and stockists leads to rising stock levels. With the sowing season approaching, traders watch closely to see how the market will react. Farmers will sow coriander as usual, but weak export demand may continue to keep prices under pressure in the coming months.