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Informist, Friday, Apr. 10, 2026

 

By Taniva Singha Roy

 

MUMBAI - Prices of coriander have risen sharply year on year so far this season after last year's low prices prompted farmers to move to more lucrative crops such as mustard. The resultant decline in output pushed up prices of coriander by 67% in the futures market and by around 50% in spot markets, market participants said.

 

Prices of the spice are likely to continue their upward trajectory except for a brief period when they could fall slightly, the market participants said. While imports may help bring down prices, the geopolitical situation in West Asia may pose logistical challenges.

 

The May futures contract of coriander has risen 67% on year so far in April to INR 13,088 per 100 kg, and prices in the spot markets have risen by about 50% to an average of INR 130 per kg. Production of coriander has been falling for the past three years, analysts said. In 2026, the production is projected at 9.5-9.7 million bags (1 bag = 40 kg), down from 11 million bags in 2025 and from 12 million bags in 2024.

 

Coriander is primarily a rabi crop, with the main sowing taking place between mid-October and November, and the crop is harvested between January and April. Though it is a winter crop, coriander is also cultivated in late kharif season during Aug-Sept.

 

The main reason for the fall in production is lower realisation. "Framers have been moving to other, more lucrative crops as prices have been below INR 100 per kg after 2022 until the end of 2025, hence production is lower," said Hariprakash Sharma, analyst at IGrain India.

 

Farmers have shifted to mustard and chana as prices of these alternative crops are much higher than those of coriander, said Manish Gupta, a trader from Madhya Pradesh. "India's total domestic as well as overseas demand for coriander is around 15 million to 17 million bags and considering the output in 2026 at 9.5 million bags and carryover stocks at 3.5 million bags, we are short of 3 million to 4 million bags," Gupta said.

 

India exports coriander to Malaysia, the United Arab Emirates, the US, China, Saudi Arabia, Nepal, Bangladesh and a few other countries. Coriander exports rose 5% on year in the Apr-Jan period of financial year 2025-26 to 52,006 tonnes, according to data from Spices Board India. But given the current domestic production scenario, exports may fall, market participants said.

 

The total area under coriander in the three major producing states of Rajasthan, Madhya Pradesh, and Gujarat is expected to be 297,900 hectares in 2026, down 12% from the previous year, according to data from Federation of Indian Spice Stakeholders. Coriander sowing during the rabi 2025-26 season remains significantly below normal, traders said.

 

In the key spot markets, coriander prices are up almost 50% on year, Gupta said. Currently, prices in the spot market are INR 130 per kg. Prices are likely to increase to INR 150 by June and to INR 175 by December, traders said.

 

Overall market sentiment for the spice is very bullish, Gupta said. Coriander has emerged as one of the fundamentally strongest agri-commodities in 2026, with January itself setting a decisive bullish tone. The prices were near INR 10,500 per 100 kg at the start of the month. They rose to a high of INR 12,090 per 100 kg, before closing around INR 11,670 per 100 kg--rising nearly 12% in the month.

 

"This move reflects a clear shift in market perception, driven by tightening supply dynamics and improving demand visibility," analysts at Kedia Advisory said.

 

Strong buying amid lower acreage and expectations of a weaker crop have supported coriander prices, analysts at SMC Global Securities said.

 

In the near term, however, prices could fall slightly as the new crop is now coming into the market from Madhya Pradesh. Crops were late in Madhya Pradesh, so arrivals are coming in now, said Sharma. After a short period, prices are only likely to rise and if that happens, next year the crop is likely to be significantly higher at around 15 million bags.

 

For a short period of time, prices may fall to around INR 12,500 per 100 kg. By the end of May, prices are likely to be in the range of INR 14,600-INR 14,800 per 100 kg, he said. In the longer term, fundamentals are extremely bullish for the spice, analysts said.

 

Looking at the current availability, importing coriander may be the need of the hour but given the ongoing war in West Asia and closure of the Strait of Hormuz, imports look difficult. India imports coriander mostly from Bulgaria and Russia, Sharma said. In FY25 coriander imports were around 15,292 tonnes, according to Spices Board data.

 

Currently, import prices are also on the lower side. Imports from Bulgaria, for example, are at INR 100 per kg, lower than INR 130 in local markets. However, the depreciation of the rupee against the dollar could also make imports unviable, Ajay Kedia, director at Kedia Advisory pointed out that.  End

 

Edited by Ashish Shirke

 

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