Jeera’s recent drop from 43710 to 5.998% is due to favourable weather conditions that increased sowing efforts. Enough soil moisture is present to facilitate the expected normal sowing of Jeera. Recent price declines have encouraged stockists to purchase, which has led to short covering.
The scarcity of high-quality crops also supports the market. However, because Indian jeera is more expensive than other origins, such as Syria and Turkey, the demand for Indian jeera has decreased globally.
In comparison to the same period in 2022, export trends indicate a significant decline of 23.76% from April to August 2023. Exports fell 2.61 percent from July 2023 to August 2023, and 66.98% from August 2022 to August 2023, which would suggest a change in global preferences.
The possibility that Chinese buyers of Indian cumin will acquire it in October or November prior to the arrival of fresh produce could further impact market dynamics. This year, 85 lakh bags are projected to be demanded, while only 65 lakh bags are expected to be supplied, suggesting a possible shortfall.
