Coriander, a staple spice in many culinary traditions, has been undergoing a noteworthy shift in its market dynamics. The markets of major Coriander-producing states are witnessing a curtailed inflow of this herb. Despite this challenge, the Coriander market has managed to maintain intermittent momentum.

Let’s delve into the present Coriander market scenario, the factors influencing its dynamics, and the promising outlook that lies ahead.

Intermittent Momentum Amid Limited Arrivals

The Coriander market has witnessed an interesting interplay between supply and demand. Despite a limited inflow in major producing states, the market has managed to maintain intermittent momentum. This can be attributed to the continued strong demand for this aromatic herb. Consequently, Coriander’s performance prospects in the upcoming period appear promising.

The market saw a surge in arrivals initially, driven by heightened demand. This surge has been short-lived as reports indicate limited arrivals in key markets. For instance, Baran Mandi witnessed an arrival of around 1500-2000 bags, while similar trends were observed in Madhya Pradesh and Gujarat. Sufficient monsoon in major Coriander-producing states has played a role in stabilizing production, but the limited comparative arrivals have bolstered Coriander prices in markets such as Ramganj and Baran.

Price Trends

In markets like Ramganj and Baran, the recent price trends have been noteworthy. Badami Coriander prices in these markets have experienced fluctuations, increasing by Rs. 200-500 in recent times. Presently, these prices range between Rs. 6500-6700 per quintal. Similarly, Eagle-Coriander prices have followed a similar pattern, reaching approximately Rs. 6800-7000 per quintal. These price movements reflect the delicate balance between supply and demand in the market.

Export Growth & Economic Impact

Coriander’s market growth story extends beyond domestic borders. Spice Board data reveals a remarkable increase in Coriander exports. In the initial two months of the current financial year 2023-24, India exported 36,982 tons of Coriander, generating an income of Rs. 290.45 crore. This represents a staggering growth in export quantity compared to the same period the previous year.

Weather Patterns & Production Impact

Weather patterns have a pivotal role to play in shaping the fate of Coriander production. Recent observations highlight the temporary disruptions in monsoon rainfall across several states. In South India, the initial part of the monsoon season saw a considerable rainfall deficit, with a shortfall of nearly 35%-40% in June 2023. However, there has been a positive turn of events with recent reports indicating an upswing in rainfall, reducing the deficit to approximately 20%-25%. Similarly, parts of Rajasthan, which had previously grappled with heavy rainfall and floods, are now witnessing a shift in weather patterns. Despite these challenges, there is a gradual upward trajectory in Coriander prices, hinting at underlying demand strength.

OFB’s Insight

The Coriander market is currently navigating a landscape of limited arrivals, increased demand, and price fluctuations. Despite the challenges posed by weather patterns and supply constraints, the market’s resilience is evident through its intermittent momentum. Export numbers growth further underlines the global demand for this aromatic spice. As we look ahead, the Coriander market’s prospects remain promising, driven by the spice’s enduring popularity and the potential for supply adjustments to meet demand. Robust Coriander demand, coupled with stable production conditions and favourable pricing trends, suggests a promising future for this essential spice.