The dry fruits are known as coriander seeds. Coriander is famous worldwide as a spice in many foods as well as beverages.
India is the largest producer but also a large importer to supplement their large domestic requirements. Over recent years the increased demand for seeds has meant less has been further processed into oil. The global seed prices have increased significantly in recent times ensuring the oil prices follow.
Coriander essential oil consists of compounds like Borneol, Cineole, Cymene, Dipentene, Linalool, Phellandrene, Pinene, Terpineol and Terpinolene, and these are all attributes that contribute to its place in the healthcare markets.
Some health benefits of coriander essential oil can be attributed to its properties as an analgesic, aphrodisiac, antispasmodic, carminative, depurative, deodorant, digestive, fungicidal, lipolytic, stimulant and stomachic substance.
The Russian invasion of Ukraine has made it a high-risk proposition to secure oil from Russia. Several financial and logistical bottlenecks are in effect. But, overcoming the challenges, coriander oil has been successfully exported from Russia.
Whether they are distilled locally or outside the Russian borders, there is no alternative to Russian coriander seeds. It is a vital compounding ingredient in many flavours and fragrances. Thus, despite the political climate, Russian coriander seed oil continues to command significant demand in the market.
While export challenges are expected to persist for the coming months, sowing preparation for the upcoming crop are in place. Despite sanctions on Russia, exporters are formulating long-term plans with respect to oil prices.
In March, the falling value of the Russian ruble made it feasible for distillers looking to export oil. But, with control measures put in place, and countries in the European Union making ruble payments for gas and oil, the of the Russian currency has improved. This, in turn, has impacted coriander seed oil prices. They are at an all time high.
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