News Commodity- Coriander prices may rise as sowing acreage declines
Coriander prices likely to rise next year as the sowing area of the spice in the major producing states declined due to inadequate rainfall and low prices.
“Overall, around a 40% fall in production is expected in the next crop, which will be harvested by February. In Gujarat, many farmers have shifted to cumin from coriander,” industry sources said.
The absence of sufficient rains in the main growing regions appears to have affected sowing of coriander, with growers opting for crops that require less water.
Low prices during the year also discouraged farmers from increasing sowing of coriander. Futures prices on the NCDEX had fallen below Rs 50 per kg several times.
The sowing area was lower last year, too, although the yield was good, according to traders. Spices Board data showed coriander production in the country reached 866,000 tonnes in 2017-18. The stock carried over this year was about 250,000 tonnes, down from over 300,000 tonnes a year earlier, when traders had purchased large quantities fearing a shortfall.
Unlike many other spices, the bulk of coriander is consumed in the country and less than 10% is exported. Overseas shipments touched 35,185 tonnes, valued at Rs 272.74 crore, in 2017-18.
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