Jeera prices dropped -0.22% to 25,220 as a result of a spike in arrivals; in Unjha, about 15,000 bags of cumin are delivered every day. An estimated 20 lakh bags of carryover stock are anticipated at the start of the next season, with farmers keeping about 35% of the supply. Nevertheless, there is hope for a post-Diwali export rebound, with higher export volumes anticipated in November and December.
There will likely be a 10% decrease in production and cultivation in Rajasthan is expected to decline by 10% to 15%. Since Indian cumin is still the most affordable in the world at $3,050 per tonne, it is drawing interest from buyers abroad, including China, where cumin prices are higher.
India is positioned as the go-to source for cumin due to its competitive pricing, particularly in light of the ongoing Middle East tensions that have increased demand from Gujarati exporters.
During the July-September period, cumin seed exports increased significantly to 52,022 MT, a 128% year-over-year increase, according to the Federation of Indian Spice Stakeholders (FISS). Jeera exports rose 61.44% to 103,614 tonnes between April and August 2024, with exports in August 2024 up 88.53% from the year before.
