Latest News

Jeera prices remain strong due to a long delay in new arrival

Reliable sources said that jeera prices have surged by about 2 percent in the last few days in domestic markets. The reason to increase prices was attributed to be a delayed new crop arrival in Gujarat due to unfavorable weather conditions.
They said that cumin sowing in key states like Gujarat and Rajasthan was delayed by about a month, which has affected in the supplies in the major domestic market. However, the upside remains limited as demand is currently low, and the export business is being met from existing stocks.
Expecting to get good prices for their crops, farmers are still holding about 20 lakh bags, hence only 3-4 lakh bags expected to be traded before the ends of season. Consequently, a substantial carry-forward stock of cumin is expected to leave approximately 16 lakh bags. Despite these factors, India remains the most competitive supplier of cumin in the global market, the sources said.
As per the official data, the country’s cumin seed production for 2023-24 has increased to 8.6 lakh tonne (lt) from 11.87 lakh hectares, compared to last year’s 5.77 lt from 9.37 lakh hectares. Indian cumin is currently priced at $3,050 per tonne, significantly cheaper than Chinese cumin, which is $200-$250 higher. This price advantage is expected to attract more international buyers, particularly from China, supporting the market in the coming months.
Furthermore, in global market export demand for Indian cumin has been remaining strong due to the ongoing geopolitical tensions in the Middle East. The data shows that jeera exports from April to November 2024 surged by 74.04 percent to 1, 47,006.20 tonne compared to the same period in 2023.