Jeera prices rose by 0.28% to 21,395 due to delays in the arrival of a new crop from Gujarat. However, the upside was capped by weak demand and sufficient stock availability. Farmers still hold around 20 lakh bags of cumin, with only 3-4 lakh bags expected to be traded by the season’s end.
Production for the current season is expected to be similar to last year due to improved crop conditions and good sowing progress. India’s cumin seed production increased to 8.6 lakh tonnes in 2023-24, up from 5.77 lakh tonnes in the previous year.
India remains the most competitive supplier in the global market, with Indian cumin being the cheapest worldwide at $3,050 per tonne. Strong export demand from China and Europe and geopolitical tensions in the Middle East have boosted cumin shipments.
