The arrival of cumin had decreased in the central spot markets across the country. However, amidst this, the traders and stockists increased their purchase of the commodities, helping the market be bullish.
There were also reports of some profit-booking selling in the Jaisalmer and Barmer line of Rajasthan. It was due to the tightness in the rupees.
In the Unjha spot market, there was a reduction in arrivals of cumin seeds accompanied by increased buying by the exporters, and traders moved the price up by $ 0,52 – $ 0,65 20 kg. With this effect, the average quality product’s price increased by $0,05 – $ 0,06 per kg to reach $1,67 to $1,70 per kg.
Machine Clean variety was reported to be sold at $3,33 per kg.
One of the reasons that the prices have gone up is that the delivery in the futures market is less than the month of May. On the other hand, the deals of exporters are pending because of the Russia-Ukraine war. But it is not affecting the market much due to the limited production amidst good domestic demand.
Other cumin-producing countries like Iran, Syria, and Turkey are also experiencing a production shortage. Combining that with the war, their export of the product is limited. This time in Turkey, the production is less, and already with a majority of the produce exported, they are feeling the crunch in quantity.
Apart from this, the limited availability of the old stock with reduced production of the new crop, the arrival in the spot market is more petite. All these factors are pushing the price higher for the commodity.
According to market experts, this is the second consecutive year that experienced a shortage of crops. Hence, the price of cumin is expected to move up further in the coming days, given the current situation, i.e., stock limitation.
Cumin A Grade 99% Pure
|April 28||$2,95 per kg FOB|
|April 25 – 27||$2,94 per kg FOB|
|April 19 – 21||$2,93 per kg FOB|
|April 12 -18||$2,92 per kg FOB|
|April 7 – 11||$2,91 per kg FOB|
|April 6||$2,90 per kg FOB|
|April 4 – 5||$2,88 per lg FOB|