Jeera prices dropped by 0.8% to ₹25,490 due to increased production expectations. However, prices remain supported by strong domestic and export demand and tight global supplies. Farmers are holding onto their stocks for higher prices.
The sowing area for jeera has increased this season, with Gujarat’s area rising by 104% and Rajasthan’s by 16%. This surge is expected to boost production by around 30%, reaching an estimated 8.5-9 lakh tonnes. Gujarat’s production is forecasted at a record 4.08 lakh tonnes.
Cumin production has increased globally, with China, Syria, Turkey, and Afghanistan contributing higher outputs. Turkey is expected to produce 12-15 thousand tonnes, while Afghanistan’s production could double, affecting prices.
Exports have also increased, with a 46.56% rise from April to June 2024 compared to 2023. However, June export figures dropped 29.12% from May.
