Coriander is under pressure as NCDEX stocks are high and arrivals regular in the trading markets. Abundant supplies mean that buyers do not have to worry that prices may rise and they are taking their time. Coriander, Eagle, 5% Split, is trading at USD 1,000/mt FOB India, which is USD 15/mt down on last week. Yet, the crop size may decline in the main producing state of Gujarat as some farmers are switching to cumin. High-quality supplies are also lacking, which may drive up prices.
Although the festival seas