Cumin prices improve due to strong domestic and export demand

04-Apr-2025 08:23 PM

📈 Cumin Prices Rise Amid Strong Domestic & Export Demand 🌍

✅ Key Drivers of Price Increase

• 📢 High demand from domestic buyers & Gulf and European importers

• 📈 Cumin futures rose 3.52% to ₹22,960 per quintal

• 📉 Limited supply due to delayed harvesting in Gujarat & lower arrivals in Rajasthan

✅ Production & Sowing Updates 🌿

• 🌾 2023-24 sowing area: 11.87 lakh hectares (up from 9.37 lakh hectares in 2022-23)

• 🏭 Production (2023-24 season): 8.60 lakh tonnes (up from 5.77 lakh tonnes)

• 📊 2024-25 production: Expected to be similar to last season

✅ Stock & Export Trends 📦📤

• 🎒 Producers hold 20 lakh bags, but only 3-4 lakh bags may trade by season-end

• 🌍 India dominates the global cumin market due to:

  • 📉 Low stock in Turkey & Syria

  • 💰 Indian cumin is cheaper than Chinese cumin

• 📌 Current export price: $3,050 per tonne (⚖️ $200-250 lower than Chinese cumin)

• 🚢 April-Dec 2024 cumin exports: 71% higher YoY

• 📈 Dec 2024 exports:

  • 🔼 +56.45% from Nov 2024

  • 🔼 +47.77% from Dec 2023

📌 What’s Next?

• 🏷️ Strong export interest from China may further boost prices

• 📈 Prices could rise further if supply remains tight