Coriander rises on low output

Coriander prices have shot up by Rs 300 a quintal in a week because of rising demand from exporters and low production.

Traders in Madhya Pradesh and Rajasthan expect the prices of the condiment, an essential ingredient in cooking, to rise further in the coming weeks.

Big traders, in anticipation of a further jump in rates, have stocked up the commodity before the onset of monsoon, creating higher demand from exporters.

According to Govind Patel, a Neemuch-based trader, the shortfall in the commodity may worsen, triggering the prices to increase by Rs 500 a quintal in the near future.

The daily arrival in the Neemuch market is about 300 sacks.

In Neemuch, the old coriander coloured like almonds sells in the range of Rs 2,800-2,850 a quintal, while the eagle-coloured coriander quotes Rs 2,900 and Rs 2,950 a quintal. Meanwhile, the fresh, green-coloured new crop is yet to arrive in the market.

In Rajasthan's Ramganj market, the rates of green (fresh) coriander are between Rs 3,000 and Rs 5,000 a quintal, while the the eagle-coloured crop is quoted between Rs 2,900 and Rs 2,925 a quintal. Traders expect the average prices to rise as high as Rs 4,000 a quintal, prompting big traders to stock up the commodity.