Weekly Review-Coriander
08-Jun-2024 08:20 PM
Coriander trade down - prices down
New Delhi. There is no decline in the prices of coriander during the current week. But knowledgeable sources say that there is no possibility of a decline in the current prices. Because the arrival at the production centers has decreased. Except Guna and Kumbhraj Mandi of Madhya Pradesh, the arrival in other mandis has remained limited. Arrival in the main mandi of Rajasthan, Ramganj, has remained only 3000/3500 bags. Because due to lack of local and export demand, there is a slow rise of 50/100 rupees in the prices. Looking at the current situation, there will be a fluctuation of 3/5 rupees in the market for some time. But after August-September, trade estimates are being made that the prices will rise by 10/15 rupees per kg. Because most of the total production has arrived in the mandis. Producers have increased the goods by 10/15 percent. Stockists will sell the goods only after the prices increase. Futures Market
During the current week, there was limited fluctuation in the futures market as well. June's coriander opened at Rs. 7412 at the beginning of the week and closed at Rs. 7366 at the end of the week. Whereas July's coriander opened at Rs. 7524 and closed at Rs. 7480 at the end of the week. Sources believe that the futures market will continue to fluctuate by Rs. 100/200. At present, more gains are not possible.
Spot Market
Coriander prices were quoted softly in the spot markets as well. It is worth mentioning that the spot trade of coriander is also based on the futures market. If the futures open high, then the prices are quoted high in the spot markets as well. If the futures are low, then the spot markets are also quoted low. During the current week, although the arrival in the mandis was low, but due to the futures prices remaining in a limited range and low demand in the local market, the prices were quoted softly by Rs. 50/100 in the mandis.
Not much slowdown
Sources say that due to the prices coming down considerably, a slowdown in the current prices is not possible now. Because despite there being no buyers, currently the stockists are not buying by reducing the prices. Because after the rainy season, it is expected that the prices of coriander should increase by 10/15 rupees per kg. Because due to the production this year, the stock of coriander is likely to be less at the production centers. Although last year the production of coriander was high in the country, but due to low prices, record exports were made. Therefore, the stock of last year is also considered to be less in the markets. While the production of the current season is being estimated to be 1/1.10 crore bags, whereas last year the production was 1.60/1.65 crore bags.
Inflow decreased
Due to about 80/85 percent of the total production coming to the markets, the arrival in the markets has decreased at present. Weekly arrival in Gondal Mandi of Gujarat is 25/30 thousand bags whereas daily arrival in Rajkot is 2000/2200 bags and in Junagadh 1000/1200 bags. Arrival in Jam-Jodhpur is 2000/2200 bags. Daily arrival in Ramganj of Rajasthan is 3000/3500 bags, Baran 1500/2000 bags and Kota 1000/1500 bags. Except arrival of 8/10 thousand bags in Kumbhraj of Madhya Pradesh and 12/15 thousand bags in Guna, arrival in Mandsaur, Binaganj, Neemuch, Ashok Nagar has remained quite low. Arrival in Neemuch, Binaganj has remained 1000/1200 bags and in Mandsaur 300/500 bags. The arrival in Ashok Nagar is going on at 2000/2500 bags.
Export
Due to low prices in the last season, coriander exports reached record levels. According to the data released by the Spices Board, coriander exports during April-February-2024 have increased by 142 percent as compared to the same period last year. According to the information received, coriander exports during April-February-2024 were 100333.98 tonnes, while in April-February 2023, exports were 41515.88 tonnes. In the year 2022-23 (April-March), the total export of coriander was 54481 tonnes. Earlier in the year 2020-21, the record export of coriander was 57359 tonnes.