Jeera prices rose 1.36% to 23860, spurred by lower cumin arrivals in Unjha, which fell to 35-37 thousand bags. This reduction in arrivals, combined with record-high acreage in important producing states such as Gujarat and Rajasthan, fueled the increasing trend.
Farmers increased cultivation due to advantageous pricing from the previous marketing season, demonstrating a strong link between market prices and acreage. Concerns about bad weather conditions in Rajasthan and Gujarat boosted the positive sentiment.
Despite the positive domestic considerations, global demand for Indian jeera fell as purchasers preferred alternate sources such as Syria and Turkey due to higher prices in India. Export volumes fell by 25.33% between April and January 2024 compared to last year.
Meanwhile, January 2024 showed a minor increase compared to December 2023 and a considerable increase compared to January 2023. Lower water availability, climate-related difficulties, and pest infestations all pose hazards to productivity.
