Outlook On Coriander June '23| Monsoon, Arrivals & Prices?

Introduction

In this article, we have compiled a comprehensive overview of the current state of the coriander market, highlighting key statistical data and trends. From the impact of the monsoon season on production to the fluctuations in arrivals and prices, we explore the intricate dynamics shaping the coriander industry.

Cyclonic Storm Impact: Recent cyclonic storm Biparjoy has brought significant rainfall to Gujarat and Rajasthan, offering relief to the land. However, this hasn't resulted in a surge of coriander arrivals, as light buying by stockists remains apparent. The market dynamics reflect a delicate balance between demand and supply.

Arrival Update: The current arrivals of coriander in prominent mandis, such as Ramganj and Baran, have shown a decline. In Ramganj mandi, the arrival has reduced to approximately three to three and a half thousand bags, while Baran Mandi witnesses a nominal amount of about 4-5 hundred gunny bags.

Monsoon Activations: The monsoon season has set its course, bringing much-needed rain to various regions of India. While South Indian states, including Kerala, have experienced active monsoon conditions, some areas still report lower-than-normal rainfall, creating a sense of anticipation.

Production Speculations Debunked: Earlier speculations of lower coriander production in Rajasthan have been proved baseless by the latest arrival levels. In states like Gujarat, Rajasthan, and Madhya Pradesh, the sowing of coriander was estimated to be double the previous forecasts, resulting in increased yields.

Price Fluctuations: With comparatively low arrivals, the price of coriander in mandis like Ramganj and Baran has experienced a slight slowdown. However, an increase in buying by stockists has recently led to price hikes. Currently, Badami Coriander is priced at Rs. 5100-5300 per quintal, while Eagle stands at Rs. 5600-5700 per quintal in Ramganj mandi.

Export Growth: The export of coriander from India has witnessed a remarkable increase in both quantity and income. In the current financial year, 54,481 tonnes of coriander worth Rs. 665.01 crore have been exported, showing a 12 percent rise in quantity and a significant 38 percent jump in income compared to the previous year.

Conclusion

The coriander market has shown stability in supply and witnessed positive growth in exports, with a significant increase in both quantity and income. Adequate monsoon rains in major producing states have supported the market, while arrivals and prices have fluctuated. As we move forward, the coriander market is expected to evolve gradually, responding to market dynamics and consumer preferences. Thus coriander price is expected to increase gradually in the coming days.