News & Updates

Is There a Possibility of Recession Due to Low Selling on Increased Prices in Cumin?

by | Nov 15, 2022 | Cumin Seeds, Spices

Looking at the supply and demand in the market of cumin, there is no possibility of a downfall in cumin. In the last week, despite the rise in the price of cumin seeds, the stockist’s selling has been petite. It directly indicates that there is no extensive stock of cumin left now. Thus, the cumin may see rising peaks in the coming days.

Current Scenario

Cumin prices are increasing rapidly as the news of reasonable inquiries from China is spread among sellers. And further, all the reports about the sowing of cumin support the boom. Cumin seed is yet to evacuate a significant uptrend ahead of the new season. Experts predict that there will be a substantial boom in the new season before June.

Three factors

Three significant factors will work for the growth of cumin. Firstly, there are three and a half to four months left before the arrival of new cumin, and the country has petite stock. It means that the domestic and export demand for Ramzan-Christmas will have to be met in little stock. Secondly, farmers are in no mood to sow cumin due to diverse climatic conditions and reasonable prices of other commodities in the market. And lastly, at the beginning of the new season, carry forward stock of cumin will be at a historically low level.

Future Scenario

Steady demand from many countries, including China, will continue. There will be a round of Chinese demand for cumin at the end of November. Thus, a clear indication of a rise has been received in the market for the past 3-4 days. Currently, the purchase of from Pakistan and Bangladesh is increasing continuously.

The purchase of Gulf countries and Pakistan-Bangladesh will also be visible in the market in January, with the beginning of the Ramadan festival in March. According to Experts, given the low stock of cumin, export demand and new sowing conditions, the price of cumin seeds is estimated to climb in December.

The cumin seeds grade A prices were recorded at $3,07 per kg FOB.

Please click to reach our marketplace

The post Is There a Possibility of Recession Due to Low Selling on Increased Prices in Cumin? appeared first on Commodity Board Europe GmbH.