Jeera prices have declined by 0.46% to ₹21,450 due to weak demand and ample carry-forward stocks. Farmers hold around 20 lakh bags, with only 3-4 lakh expected to be traded by season-end. The Spices Board reports 2023-24 production at 8.6 lakh tonnes, up from 5.77 lakh tonnes last year.
Domestic demand and export activity, particularly from Gulf countries post-Ramadan, provide underlying support. Supply remains tight due to limited arrivals from Rajasthan and Gujarat’s new crop being delayed by a month due to unfavorable weather.
India remains the cheapest global supplier, with prices around $3,050 per tonne, which has drawn global buyers, including China, driving exports 70.72% higher to 1,65,084 tonnes from April to December 2024.
