Jeera stocks fall despite low demand

jeera

Jeera fell 1.37% to ₹20,905 on increased supply availability and lower demand. Of the nearly 20 lakh bags currently held by farmers, only 3-4 lakh bags are expected to be traded by the end of the season, leaving 16 lakh bags available for carry-forward. Jeera production for 2023-24 is expected to be 8.6 lakh tonnes from 11.87 lakh hectares, compared to 5.77 lakh tonnes from 9.37 lakh hectares last year. At $3,050 per tonne, India continues to be the most affordable source of jeera, which is $200-$250 less than Chinese cumin.

This price advantage is expected to attract international buyers, especially from China, Europe and the Middle East. Geopolitical tensions in the Middle East have also contributed to the increase in export demand from Gujarat-based exporters. Jeera exports increased by 74.04% year-on-year to reach 1,47,006.20 tonnes from April to November 2024, as against 84,467.16 tonnes last year. However, November 2024 exports declined by 28.92% month-on-month to 11,555.56 tonnes, although they remained 42.67% higher year-on-year.

Leave a Reply

Your email address will not be published. Required fields are marked *