Jeera acreage reached a four-year high during the current rabi season, which caused jeera prices to decrease by -0.93% and settle at 25435. Due to the previous selling season’s record prices, farmers in important producing states like Gujarat and Rajasthan increased their crops.
Gujarat saw a significant 160% rise in jeera agriculture, surpassing the average acreage of 3.5 lakh hectares to 5.60 lakh hectares. Compared to the previous year, jeera agriculture in Rajasthan rose by 25% to 6.90 lakh hectares.
The downside for jeera prices is thought to be limited despite the increase in acreage because of growing weather threats in Rajasthan and Gujarat that could negatively impact yields. The market dynamics are made more complex by issues like decreased water supply, fewer cold days, and worries about fusarium wilt attacks on crops.
Because Indian jeera is more expensive than other sources, such as Syria and Turkey, the market for it has collapsed globally. Export data from April to December 2023 decreased by 29.95%, pointing to a difficult market environment. In contrast, jeera exports in December 2023 demonstrated a noteworthy 51.05% growth from November 2023.
