Cumin market witnessing steady to weak sentiment in the Indian market.
This week market opened with $ 2.193 per MT for Cumin A grade 99% and $2.099 per MT for Cumin FAQ 99%. However, prices decreased today due to slower demand and no buying requests, and prices quoted today at $2.135 per MT for Cumin, a grade of 99% and $2.066 per MT for FAQ 99% grades.
As per the expectations, buyers are not active in the spot market cause they are interested in buying at lower pricesvel. Farmers and stockists are only interested in releasing their produce at higher prices level. Another side, demand from the export front also getting slower.
Currently, lower rainfall is reported in Gujarat cumin growing regions which can support price in the coming days.
Current year, the cumin sowing area may shift towards Soybean, Peanut, Coriander, Ajwain and Fennel due to higher prices.
New crop sowing will start from October mid-week.
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