In Unjha Mandi of Gujarat, the arrival of cumin has remained in a limited range for the past few days. Mandi-based trader Mr. Jatin Patel said that the wholesale price of this major commodity has also been firmly stable due to the arrival pressure. He further added that if the arrivals still do not increase, the market can once again move on a bullish path.
However, cumin seed rose by $2,63 to $2,81/ 2,83 per kg in the wholesale grocery market because stockists increased buying. Traders say that arrivals are likely to be much weaker than average, and market sentiment is getting affected due to these reports. Recently, traders were not sure to buy cumin seeds at current levels, which are pretty high, but now they are not hesitant either, as the market can move more up from these levels.
Earlier it was believed that the arrival of cumin seeds would increase after the Holi festival on March 18. It has been almost a month since the celebration of Holi, and arrivals have come down to the level of 25-26 thousand sacks; however, for a few days in Unjha Mandi arrival of cumin had increased to about 27-28 thousand bags.
Due to non-compliance in arrivals and increased buying by the stockists and traders, the price of cumin seeds in domestic markets remains in the range of $2,68/2,75 per kg. The critical fact is that price of cumin in Unjha has picked up in the past couple of months and has set a record break level of about $2,75-2,79 per kg. Experts state that the latest price trend in the cumin market might touch the new record price.
Mr. Dixit Patel, another prominent trader based in Unjha Mandi, said that stockists and traders are gradually buying because the arrival is in a limited range, and demand & consumption might increase in the coming time.
Traders say that this season due to the decline of about one-third in the sowing of cumin in Rajasthan and Gujarat, it was expected that its arrival in the season would never touch the average level of 50-60 thousand bags daily. However, suppliers had anticipated that the arrival could be around 30-35 thousand sacks. Looking at the current arrival trend, it does not seem that the arrival of cumin seeds will reach the estimated level of 30-35 thousand sacks this time.
According to reports, exporters’ buying has remained sluggish compared to expected. Currently, only exporters supplying to Sri Lanka seem to be significantly active in the market. There is a lack of export orders from other countries, as they are holding up at current market levels and prefer to wait. If the demand from other countries arises, then the wholesale price of cumin can boost.
Cumin A Grade 99% Pure
|April 11||$2,91 per kg FOB|
|April 6||$2,90 per kg FOB|
|April 4||$2,88 per kg FOB|