Jeera prices fell by 0.66% to ₹24,225 due to profit booking gains. Delays in sowing in Gujarat and Rajasthan, key producing states, have impacted production timelines. Gujarat reported jeera sowing in just 15% of the normal area, with a 20-25 day delay impacting production timelines.
India’s cumin production reached 8.6 lakh tonnes in 2023-24, up from 5.77 lakh tonnes in the previous year. However, Rajasthan’s cultivation may decline by 10-15%, and overall production could drop by 10%.
Export demand remains strong, with shipments from April to October 2024 rising 77.37% year-on-year to 135,450.64 tonnes. October exports surged by 161.04% due to geopolitical tensions and festive buying.
India continues to be the world’s most affordable supply of cumin, with costs as low as $3,050 a tonne, which is $200–250 less than Chinese pricing. Due to its cost advantage, India is now the world’s favored supplier.
