The coriander market looks set for interesting times. Generally speaking, the two major producing areas ( India and Eastern Europe ) are experiencing poor harvests at the same time. This is an unusual coincidence which may lead to higher prices for some time.
The crop was harvested in Feb / March and looks set to be around 30% to 40% less in tonnage than the previous year. Speculators are controlling a large part of the crop and FOB prices range from $1400 to $1800 pmt depending on the quality. There is a long way to go to the next crop in Match 2014, so expect a bumpy ride…
Romania – Very dry weather in most of the country, affecting all crops. Very limited crop being harvested in the next few weeks. I expect Romania to be, like last year, essentially out of the market again.
Bulgaria Sowing less than last year ( in Jan / Feb ) as the soil was not ready for coriander…- due to adverse weather in winter and farmers have sown other crops .Expect a smaller crop than last year
Ukraine -Crop is expected to be “normal” but is delayed and first shipments will be in early August. Russia similar to Ukraine but earliest shipments in August only
Current offers of old crop:
Whole Russian / Purity 98%
Quantity 3 x 40 ft FCL about 69 mt
Colour – medium – brown
Inspection at Load port by Commodity Control services
Price $1080 pmt C & F