Current Market Developments:
- As depicted in the adjacent weekly Jeera price trend chart, prices have continuously increased in domestic spot markets as stockiest and traders buying remained strong.
- In Unjha market prices in the last couple of weeks has increased from Rs 29500 to Rs 35,000 per quintal.
- The new crop arrivals in markets are expected to start from March onwards, till than prices are likely to trade in range bound manner.
- As per market sources, the export demand for cumin seed has remained slow and after 20th January improvement in export demand is expected. Trade sources are expecting exports to pick up in coming months due to strengthening of dollar against rupee and good demand expected from China in January and Ramzan demand during January-February from gulf & other countries.
- According to the Department of Agriculture Gujarat, Cumin seed acreage has declined by 10 percent at 2,75,655 hectares as compared to 3,07,145 hectares last year same period. As per market sources, Porbandar district reported a decline of 40-45 percent. Similarly, in Jamnagar-Dwarka district decline of 30-35 percent in acreage is expected.
- As per the Ministry of Commerce & Industry, this year during 2022-23 (Apr-Sept) India exported around 1.04 lakh tonnes as compared to 1.32 lakh tonnes corresponding period last year.
- In International markets Indian cumin seed quoted around $3000 to $3050 per tonnes for Gulf countries, for European countries quoted around $3250 per tonnes and for America cumin seed quoted around $3350 per tonnes.
Cumin Seed (Jeera) Price Trend Vs Seasonality at Key Markets
Cumin Seed Area and Production Trend:
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