Jeera fell as a result of profit booking following price increases brought on by reduced supplies

In response to recent increases brought about by a reduction in local market supplies, jeera prices saw a -1.49% dip driven by profit booking. Stockists have shown growing interest as the demand for jeera during festivals rises, especially when millers’ inventories are getting smaller.

Although Indian jeera is now priced competitively, this does not benefit exporters, which has a muted impact on export activities. An important factor affecting the overall Indian jeera exports is the fact that China, a significant importer of Indian jeera, has cut back on imports recently.

The primary jeera-producing state of Gujarat is predicted to experience continued dry weather, which will increase arrivals and potentially restrain price increases. Compared to the same period in 2022, when jeera exports were 47,190.98 tonnes, they significantly increased between April and June of 2023, rising by 13.16% to 53,399.65 tonnes.

However, shipments during the month of June fell significantly, from 25,903.63 tonnes in May 2023 to only 10,411.14 tonnes, a 59.81% decrease. There was a 51.78% decrease in jeera exports in June 2023 as compared to June 2022, when 21,587.63 tonnes were shipped out.

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