A possible increase in market arrivals caused Jeera’s price to drop

Jeera prices saw a 1.38% decrease during yesterday’s trading session, ultimately finishing at 24230. This was mostly because of market pressure from anticipation of higher arrivals. The drawback was minimal, though, since international consumers continued to favor Indian jeera despite dwindling supply worldwide.

In Rajkot Mandi, the market saw a significant influx of 10000 to 12000 bags of jeera every day, exceeding levels of demand. This increase in arrivals might be ascribed to recent arrivals in Rajasthan and Gujarat, where sowing areas have seen notable growth.

Production is predicted to go beyond previous records to a new high of 4.08 lakh tonnes in Gujarat alone. In a similar vein, cumin production in Rajasthan increased by 53%, which helped to raise cumin production nationwide in India’s principal cumin-producing areas.

Trade experts predict that cumin exports will rise significantly despite the production growth, reaching 14–15 thousand tonnes by February 2024. This is in contrast to the turbulent time in 2023 when exports decreased relative to prior years due to a spike in local prices.

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