Weekly Review-Cumin
22-Mar-2025 08:28 PM
Cumin prices rise
Mumbai. Cumin prices rose during the current week. However, the arrival of new cumin in the markets of Gujarat, the main producer state, was good. But due to rising futures prices and good demand from exporters, the prices of cumin in the spot markets rose by Rs 10/15 per kg. In the futures market also, cumin of March month closed at Rs 22090, while the price opened at Rs 20560 at the beginning of the week. Cumin of April month opened at Rs 20955 and closed at Rs 22220 at the end of the week.
Arrival
At present, apart from the markets of Gujarat, the daily arrival of new cumin has started increasing in the markets of Rajasthan as well. Daily arrival of cumin in Gujarat's major market Unjha is about 50 thousand bags. Whereas in Rajkot 10/11 thousand bags and Gondal 4000/5000 bags are going on. Arrival is also going on well in the markets of Halvad, Botad, Morbi etc. Overall, the daily arrival of cumin in the markets of Gujarat is around 1 lakh sacks. Arrival in Merta Mandi of Rajasthan has also started to be 10/15 thousand sacks in Nagaur, 7/8 thousand sacks and 5/6 thousand in Jodhpur. Sources say that the arrival in the markets of Rajasthan will increase in the coming days.
Production
Due to less sowing, there is news of cumin production in the country being less than last year during the current season. According to the data released by FISS in the Masala Seminar held in Goa at the beginning of the current month, cumin production will be 97.94 lakh sacks. Whereas last year the production was estimated to be 1.12 crore sacks. This year cumin production in Gujarat is estimated to be 45.74 lakh sacks. Whereas last year the production was 48.15 lakh sacks. The production in Rajasthan is estimated to be 52.19 lakh bags as against 64.27 lakh bags last year. It is noteworthy that in the last season, due to the producers not getting the right price for their produce, a percentage decline was recorded in the sowing area. Last year, cumin was sown on 12.64 lakh hectares in the country, whereas for the current season, the sowing area was 11.71 lakh hectares.
Slowdown-Rise
Traders believe that due to the considerable decrease in the price, a major slowdown in the demand of cumin is not possible. But there is no possibility of a major increase in the current prices in the near future. Because after the recent rise of 10/15 rupees, it is being estimated that the arrival pressure in the markets will increase. Due to which a decline of 5/7 rupees can be recorded in the prices. In the coming days, the arrival of new cumin in Rajasthan will also start increasing. Due to which, during the month of April, there will be a slowdown of 5/8 rupees per kg in cumin prices. During the current week, a good increase was also registered in cumin export prices. At the beginning of the current week, the price of Singapore 1 percent machine clean cumin was being quoted at Rs 4160 per 20 kg, which has currently increased to Rs 4400 per 20 kg. Sources say that the estimate of more slowdown or rise will depend on the crop of Termi and Syria coming in the month of June-July.
Export
Due to the slowdown in the price of cumin in the last season, there was a great export of cumin. According to the data released by the Spices Board, during April-December-2024, 178846.56 tonnes of cumin was exported. And the income received from export was Rs 4909 crore. Whereas in April-December-2023, 106905 tonnes of cumin was exported and the income received from export was Rs 4034 crore. Thus, while the export quantity registered an increase of 67 percent, the income increased by only 22 percent. During the year 2023-24 (April-March), the total export of cumin was 165269 tonnes. During the year 2020-21, a record export of 298423 tonnes of cumin was done.