Daily Review-Cumin

10-Jun-2024 07:15 PM

Cumin- Decline in Cumin Due to Decrease in Export Demand

New Delhi. Cumin prices remained sluggish even today. Knowledgeable sources say that there has been a lack of export demand for cumin for some time.

Apart from this, business in local has also remained limited. Sources say that due to the start of new crop in China, China's buying has ended.

It is worth mentioning that due to lack of export demand, a huge decline has been registered in cumin exports during the month of May.

In April-2024, cumin exports were 41185 tonnes, which has come down to 22885 tonnes in the month of May.

Due to the sluggish news of futures and weak pick-up in local, today the prices of cumin were quoted with a decline of Rs 500/600 per quintal at the mandis of production centers as well as consumption centers.

In the futures market also, cumin of June month closed with a decline of Rs 620 and July month with a decline of Rs 775. Looking at the current situation, there is no possibility of a long-term increase in cumin prices in the near future.

Because apart from India, there are reports of higher cumin production in other countries as well this year.