Prices for jeera decreased as a result of weak export demand

Prices for jeera (cumin) fell significantly, by 4.51% to 53,940, mostly as a result of weak export demand. As customers preferred other sources like Syria and Turkey due to higher Indian prices, demand for Indian jeera decreased globally. Due to export seasonality, export activity is anticipated to stay muted in the upcoming months.

Indian jeera prices have remained competitive on the international market despite the scarcity of high-quality crops, which has lowered demand from abroad. China, a key consumer of Indian jeera, has recently scaled back its imports, which has an impact on India’s overall exports.

Market dynamics are made more complex by China’s unclear decision to resume buying in October or November before fresh cumin is available. Increased arrivals could result from Gujarat’s dry weather, which might restrain price increases. Cumin demand should outpace supply this year, according to FISS projections.

In comparison to 67,057.16 tonnes during the same period in 2022, jeera exports decreased by 7.99% from April to July 2023, totaling 61,697.44 tonnes. When compared to June 2023, exports fell by 20.30%, and when compared to July 2022, they fell by a significant 58.23%. Prices were 56,961.4 Rupees, reflecting a 0.55% fall, in the Unjha spot market.

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