Prices for jeera experienced a minor uptick yesterday of 0.45%, closing at 23635, possibly as a result of increasing pressure from arrivals. Despite reduced global supply, buyers worldwide persisted in favoring Indian jeera; as a result, the negative movement was contained.
Every day, between 10,000 and 12,000 bags arrive in Rajkot Mandi, surpassing the present supply to meet the demand. 4.08 lakh tonnes of production are expected to break records in Gujarat, and tales of additional arrivals in Rajasthan have increased production estimates.
An expansion in Gujarat’s sowing area of 30–35% and Rajasthan’s following suit are blamed for the production boom. The huge crop has also been aided by favorable weather in important cumin-producing regions.
Jeera exports fell by 25.33% from April to January of 2024 compared to the same period in 2023, despite a spike in production and exports. However, exports increased by 53.99% in January 2024 compared to January 2023. Prices closed at 24913.7 Rupees, up 0.33%, in Unjha, a significant spot market.
