Where Prices Stand?
Coriander followed a sharp leap this season. Eagle variety coriander prices in the Ramganj mandi have rallied sharply from Jan’26 levels of around ₹9,580.6/quintal to currently trading near ₹12,400/quintal, supported by tightening arrivals and improved demand sentiment.
In the Ramganj mandi, Eagle variety coriander prices witnessed a strong rally during Jan–Apr’26. Prices moved from a low of around ₹9,580.6/quintal in Jan’26 to a high of ₹12,414.3/quintal in Apr’26, supported by tightening arrivals and improved buying interest. The market is expected to remain firm during May’26 amid lower arrivals and steady demand.
The Arrival Story Is Shifting
Arrivals at key mandis were already running significantly below prior-year levels:
- Gondal market: Jan to April 2026 arrivals reached 22,407 MT down 39% YoY from 36,479 MT
- Ramganj market: Jan-Apr at 13,167 MT down 21% YoY
- Gondal’s Apr’26 arrivals fell 46% YoY to 7,595 MT signaling tighter supply even during peak harvest
Peak arrivals are now over. Seasonal inflows are expected to decline from here. The supply cushion that’s been suppressing prices is narrowing.
The Export Market Is Stalled — But That Could Change
Traditionally, Malaysia has been the largest export destination for Indian coriander, followed by the UAE, Saudi Arabia, Nepal, and Bangladesh.
Exports for JFM’26 fell 29% YoY, down to 9.44 thousand metric tons from 13.22 thousand metric ton in JFM’25.
Key destination breakdown:
Shipments to UAE and Saudi Arabia fell sharply by 45–46% YoY, indicating slower Gulf buying. Malaysia, the largest buyer, also declined by 15% YoY.
The Gulf market which drives the bulk of Indian coriander export demand has been in a cautious holding pattern, shaped by elevated freight costs and ongoing West Asia logistics disruptions tied to the Red Sea situation.
Here’s the risk: this demand hasn’t disappeared. It’s deferred. When freight normalizes or Gulf buying resumes, it could reactivate quickly absorbing available stock faster than the market anticipates. However, this would majorly depend on how prolonged the on-going war would going to be.
The Risks That Matter for the Next 3–6 Months
- Post-harvest supply tightening is already underway. With Gondal and Ramganj arrivals running 39-46% below last year and peak arrivals behind us, the supply pressure that’s been compressing prices is fading. Any pickup in domestic or export demand could tighten the market faster than current sentiment suggests.
- Red Sea and Gulf freight risk is not resolved. Export flows to the UAE and Saudi Arabia are down sharply not because of structural demand loss, but because elevated freight and logistical friction have made Gulf buyers cautious. A freight correction or geopolitical easing could flip this dynamic quickly.
- El Niño adds a forward supply risk. Weather conditions during the upcoming sowing window remain crucial for next-season supply, as strong El Niño conditions may reduce soil moisture and affect sowing. Coriander acreage is also highly price-driven, with farmers expanding acreage during higher price periods and reducing sowing when prices are weak.
The Bottom Line for Buyers
With arrivals tightening, export demand likely deferred rather than lost, and weather risks emerging for the next crop, the current coriander market still appears fundamentally supportive despite the sharp rally already witnessed.
The question isn’t just where prices are today. It’s whether your procurement structure is designed for the scenario where they aren’t here tomorrow.
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