Higher Production Prospects Caused Jeera Prices to Drop

Rising production projections in Gujarat and Rajasthan meant that jeera prices stayed unchanged at 28350. With Gujarat and Rajasthan spearheading the expansion, jeera acreage reached a four-year high during the current rabi season. Gujarat saw a 160% increase in farming, surpassing the typical acreage of 3.5 lakh hectares to reach 5.60 lakh hectares.

At 6.90 lakh hectares, Rajasthan also saw a 25% increase. The reason for this increase is because farmers expanded their cultivation in response to the record prices of the previous season. The desire for Syrian and Turkish jeera, which are more expensive, has caused a drop in the demand for Indian jeera globally.

The cultivation outlook is impacted by issues including decreased water availability, fewer cold days, and worries about pest infestations and fusarium wilt. From April to November 2023, Jeera exports decreased by 33.10%. November’s exports increased by 30.04% from October to November 2022, but decreased by 22.89% from that month to October 2022.

The imports of jeera fell by 1,134.63% from April to November 2023. In November, there was a notable decrease of 81.18% from October but an impressive rise of 1,426.38% from November 2022. Prices in the Unjha spot market concluded at 32407 Rupees, a decrease of -0.03%.

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