Yesterday, jeera prices rose by 1.08% to settle at 21900, propelled by buyers’ preference for Indian jeera in the face of limited worldwide supply. The upside was, however, limited because of worries about rising market arrivals; in Rajkot Mandi, daily shipments of 10,000 to 12,000 bags exceed demand. Pressure on the market has increased as a result of the start of new arrivals in Gujarat and Rajasthan.
Production increased significantly as a result of expanded sowing areas in important jeera-producing regions of Gujarat and Rajasthan as well as excellent weather. It is predicted that Gujarat will produce twice as much cumin this year a new high of 4.08 lakh tonnes.
Similarly, the production of cumin increased by 53% in Rajasthan. By February 2024, exports of cumin are predicted to rise significantly as a result of this output boom, reaching 14,000–15,000 tonnes. Nevertheless, jeera exports from April to January 2024 fell by 25.33% when compared to the same time last year, despite expectations of higher exports.
However, January 2024 shipments were higher than December 2023 and January 2023, suggesting a partial recovery in export quantities. Prices in Unjha saw a 0.78 percent increase in the spot market, closing at 23032.8 Rupees.
