Jeera Withdrew Due To The Potential For Additional Pressure On Arrivals

Yesterday, jeera prices fell significantly, falling -2.14% to 22400, mostly as a result of market pressure from expected increases in arrivals. The Rajkot Mandi market saw 10,000–12,000 bags arrive every day, exceeding the amount of demand that is now in place. Production has significantly increased due to favorable weather and an expansion of the sowing area in Gujarat and Rajasthan, two of the world’s largest cumin-producing regions.

It is anticipated that Gujarat would produce a record 4.08 lakh tonnes, but Rajasthan’s production has surged by 53 percent. It is anticipated that this significant rise in production—nearly tripling from the previous year—will strengthen cumin exports, which were unstable in 2023 as a result of skyrocketing domestic prices.

Although jeera exports fell between April and January of 2024 in comparison to the same period in 2023, a notable increase in exports was observed in January of 2024, suggesting a possible resurgence. Exports increased by 53.99% in January 2024 over January 2023, indicating a resurgence of interest in Indian jeera on the global stage.

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