Jeera prices had a slight increase of 0.2%, ultimately reaching 29,390. This increase was mostly caused by a deceleration in the rate of arrivals, as farmers and stockists withheld their inventory in anticipation of higher prices. The first week of May saw a modest increase in jeera arrivals at major APMC mandis throughout India when compared to the previous week, suggesting a cautious mood among investors.
With strong demand and aggressive stockist buying, export demand is predicted to increase even more. This is especially true when buyers throughout the world demonstrate a preference for Indian jeera in the face of limited supply. Production has significantly increased as a result of expanded sowing fields and excellent weather in Gujarat and Rajasthan, two important cumin-producing regions. Gujarat is expected to set a record with 4.08 lakh tonnes of cumin.
Cumin exports are predicted to rise significantly as a result of this production boom, with projections indicating that by February 2024, exports might total between 14,000 and 15,000 tonnes. Though production and exports are expected to grow, jeera exports from April to March of 2024 decreased by 13.53% over the same period the previous year, coming in at 152,189.32 tonnes. However, March 2024 saw a noteworthy increase in shipments, suggesting that global demand may be on the rebound.
