Jeera yesterday decreased by -0.55% to 56520 as a result of an improvement in the supply situation around the world. The drawback is, however, considered to be minimal because of the limited supply brought on by the wet weather. In the next few days, India’s export demand will decline as Syria and Jeera become more affordable on the global market.
The growing trend will be halted by a spike in arrivals caused by Gujarat’s dryer climatic conditions. The price of cumin has temporarily corrected due to imports and exports from China, with a recent $200 drop in the international market. The market dynamics are further complicated by the probability that China would buy Indian cumin in October or November prior to the introduction of fresh cumin.
The demand for cumin is expected to exceed 85 lakh bags this year, while the supply is only expected to be 65 lakh bags, according to FISS projections. Exports of jeera increased by 13.16% from April to June 2023 to 53,399.65 tonnes from 47,190.98 tonnes during the same period the previous year.
Jeera exports fell by 59.81% from 25,903.63 tonnes in May 2023 to about 10,411.14 tonnes in June 2023. Jeera exports fell by 51.78% from 21,587.63 tonnes in June 2022 to an estimated 10,411.14 tonnes in June 2023. The price finished at 58585.8 Rupees in Unjha, a significant spot market, declining by -0.06 percent.
