Strong trend in cumin prices due to better export performance

08-Nov-2024 03:39 PM

Rajkot. The demand for Indian cumin remains strong in the international market because the situation in Syria, Turkey and Iran is not normal. Syria and Iran are directly embroiled in a war with this land, while Turkey is also being affected by this war. Due to the disruption in the shipment of these countries, major importing countries are increasingly getting attracted towards Indian cumin. As a result, in the first five months of the current financial year i.e. from April to August 2024, the total export of cumin from the country increased to around 1.12 lakh tonnes, which was 60 percent more than the shipment of 70 thousand tonnes in the same months of the year 2023. The export income of cumin also increased by 27 percent from Rs 2425.69 crore to Rs 3069.76 crore during this period. It is worth noting that during this time period, the supply of cumin in Iran, Turkey and Syria remains off-season. One special thing is that the sowing of cumin is getting delayed this time. In top producing states like Gujarat and Rajasthan, usually early sowing of cumin starts from mid-October, but this time, despite the first week of November having passed, the sowing campaign has not started there because the temperature is high. The temperature of 28-30 degrees Celsius is considered ideal for sowing cumin, while the maximum temperature in both these states is reaching 35-37 degrees. Sowing of cumin can gain momentum only when the temperature drops. The delay in the sowing process is giving the market an opportunity to remain strong.

As the average daily arrival of cumin in Unjha Mandi of Gujarat increased to 14-15 thousand bags, its price softened a bit. The further increase in exports can have an impact in the coming days. Good demand for cumin is expected in Bangladesh, Sri Lanka and Malaysia as well as China and Europe.