Jeera rose 2.26% to 25,140 on short covering and expected export demand despite increased supply. Oonja receives more than 15,000 bags of cumin per day, and farmers are expected to save about 35% of their seasonal supply. Around 20 lakh bags were in carryover supply at the beginning of the season. After Diwali, export demand is expected to pick up in November and December. Cumin production is expected to decline by 10% this year, while Rajasthan’s agricultural area is expected to decline by 10% to 15%.
At approximately $3,050 per ton, Indian cumin is currently $200–250 cheaper than Chinese cumin, which is why it is attracting more interest from around the world, especially from China. As a result of geopolitical unrest in the Middle East, Gujarat’s cumin seed exports rose 128% year-on-year to 52,022 metric tonnes between July and September. The upcoming holiday season has boosted demand for exports from Europe and elsewhere. Exports of jeera between April and August 2024 increased by 61.44% to 103,614.46 tonnes, compared to the corresponding period of the previous year. Exports increased by 88.53% to 12,544.44 tonnes in August alone.
