Jeera prices fell by 0.1% to 19,965 following weak domestic and export demand during the peak retail season. The decline was largely due to subdued buying from overseas markets and inactivity from foreign buyers.
Adequate existing stock levels and comfortable supply also weighed on prices. Farmers hold around 20 lakh bags of cumin, but only 3-4 lakh bags are expected to be traded by the end of the season.
India’s cumin crop is expected to be around 90-92 lakh bags, lower than last year’s 1.10 crore bags. April’s export figures showed a 48% decline year-on-year but rose 13.74% month-on-month.
