Jeera prices rose by 0.36% to 25,435, driven by strong domestic and export demand and global supply constraints. However, expectations of higher production and farmers holding back stocks contributed to price support.
Jeera production has increased significantly worldwide, with China driving the increase, more than tripling its output to about 55–60 thousand tonnes. Syria, Turkey, and Afghanistan are also anticipated to increase their production, which would cause cumin prices to drop as more supply enters the market.
Despite this, India’s jeera exports have increased dramatically—from April to June of 2023 to June of 2024, exports increased by 46.56% over the same period in 2023.
Exports were still up 60.13% from June 2023 to June 2024, but they decreased by 29.12% from May 2024 to June 2024. Prices for jeera concluded the day at 25,479.45 rupees, down 0.03% on the Unjha spot market.
