Jeera prices fell -0.75% Wednesday, closing at 25190. This was mostly because of the market pressure brought on by the expectation of more increases in arrivals. Nonetheless, strong export demand and forceful stockist purchases kept the negative effects in check. Due to limited worldwide supply, Indian jeera continued to be favored by purchasers worldwide, even though Rajkot Mandi received 10,000–12,000 bags per day, exceeding market demand then.
There was a notable rise in production due to excellent weather and an expansion of the sowing area in the major cumin-producing regions of Gujarat and Rajasthan. An unprecedented 4.08 lakh tones of cumin are expected to be produced in Gujarat, and 53% more in Rajasthan.
Cumin exports are predicted to rise significantly as a result of this growth, which has doubled over the previous year. Estimates indicate that by February 2024, exports might reach 14,000–15,000 tonnes. Nonetheless, jeera exports from April to February of 2024 decreased by 23.75% as compared to the same period in 2023, despite the export market’s optimistic forecast. Exports fell by 3.49% from February 2023 to February 2024 and by 11.54% from January 2024 to February 2024 alone.
