Coriander Seed Price in India Decreased by 29.21% YoY due to Oversupply and Weak Demand

The wholesale price of coriander seed in India, decreased by 29.21% YoY to USD 0.77/kg in Nov-23 due to higher acreage and improved yields, as well as weak demand from China. The price of coriander seeds is expected to be influenced mainly by the demand from the target markets.
In Nov-23, the wholesale price of coriander seed in Gujarat, India, decreased by 29.21% year-on-year (YoY) to USD 0.77 per kilogram (kg). The decline in coriander prices in 2023 is due to high acreage and improved yields in India. The cultivation area in Gujarat increased by 77.6% YoY to 222.79 thousand hectares (ha) in Jan-23, which has boosted coriander production. Weak demand, particularly from China, also contributed to the price decline. Typically, Chinese buyers purchase a large quantity of coriander seed in December to prepare for the demand during the Lunar Year festival. However, the current inquiries decreased sharply due to the weak economy. The price of coriander seeds is forecasted to be influenced mainly by the demand from the target markets. As the stock depletes, traders must increase their inventories to fulfill the demand.