Jeera prices dropped by 0.54% at 25,015, driven by increased cumin arrivals in key markets like Unjha. Farmers hold 35% of the current season’s stock, with carryover stock expected to be around 20 lakh bags for the new season.
However, there is optimism for improvement in cumin exports post-Diwali, with 15,000 to 17,000 tons expected to be exported in October, November, and December.
Sowing of cumin is set to begin after Diwali, but there is a 10% decline in production and a 10-15% reduction in cultivation in Rajasthan.
Indian cumin is currently the cheapest globally, priced at $3,050 per tonne, making it the primary source. Tensions in the Middle East have boosted demand for Indian cumin, with cumin seed exports increasing 128% year-on-year in July-September 2024.