The main factor behind the 0.38% increase in jeera prices to 23920 was a decrease in cumin arrivals in Unjha, which was indicative of tightening supply conditions. The current rabi season has seen a four-year high in jeera acreage; nevertheless, arrivals have dropped to 35–37 thousand bags, suggesting possible supply problems.
Due to record prices from the previous marketing season, farmers increased their acreage in the major producing states of Gujarat and Rajasthan, demonstrating the strong relationship between market prices and acreage. Furthermore, price firmness was reinforced by newly emerging weather hazards in Rajasthan and Gujarat, such as water scarcity and unfavorable temperature conditions.
Due to significantly higher prices in India, purchasers have chosen to purchase jeera from other origins, such as Syria and Turkey, resulting in a fall in global demand. Seasonality, worries about water availability, climate change, and pest assaults continue to hinder exports.
Even while other key producing nations like China, Egypt, and Syria forecast better yields, the world market will be impacted by what might be a blockbuster crop in India. Between April and January of 2024, Jeera exports decreased by 25.33% compared to the year before. Nonetheless, exports increased somewhat between December 2023 and January 2024, as expected given seasonal variations.
