After a recent dip attributable to increasing acreage in the current rabi season, jeera prices saw a strong rebound yesterday, finishing up by 1.91% at 23760 rupees. Due to record prices from the previous marketing season, farmers in important producing regions like Gujarat and Rajasthan greatly increased their cultivated fields.
This growth in acreage exceeded typical levels and was a significant gain from the previous year, particularly in Gujarat where cultivation covered 5.60 lakh hectares. Jeera agriculture increased by 25% in Rajasthan as well, to 6.90 lakh hectares.
Nevertheless, despite the rise in cultivation, prices were supported because of growing weather threats in Gujarat and Rajasthan that may hurt crops. There is more uncertainty in the prognosis due to challenges including less water supply, fewer cold days, and worries about pest assaults.
Due to the relatively higher prices in India, customers favored other origins such as Syria and Turkey, resulting in a drop in the global market for Indian jeera. In the following months, export volumes are anticipated to be impacted by this trend continuing. The dynamics of the worldwide market are also influenced by the larger yields that other significant jeera-producing nations predict.
