Jeera prices rose by 0.75% to settle at 20,780, driven by low-level buying. Indian cumin remains the cheapest globally, attracting international buyers despite weak domestic demand. Farmers hold around 20 lakh bags, with only 3-4 lakh bags expected to be traded by the end of the season.
Production is expected to remain stable due to improved crop conditions and good sowing activities. India’s cumin seed production increased to 8.6 lakh tonnes in 2023-24, benefiting from increased sowing across 11.87 lakh hectares.
Export trends remain positive, with cumin exports surging by 74.04% to 147,006.20 tonnes during April-November 2024. Geopolitical tensions in the Middle East have increased demand from European and Chinese buyers.
