Cumin sowing is going on in Gujarat, and there are reports of some problems with the cumin crops this time. Even after this, cumin prices have recently declined by about $0,024 per kg due to weak off-take by local stockists. In the coming days, the mood of caution has started showing in the cumin industry and trade.
Germination problem
Gujarat is the country’s largest cumin-producing state. The first and foremost reason is those discussions. This time in Gujarat, there is a problem in the germination of the crop, which has been sown vigorously. The second reason is that the campaign for the assembly elections is on in Gujarat. Due to this, the State Agriculture Department cannot revise its probable sowing figures properly.
Since the production of cumin fell by almost a third during the second and current seasons, its wholesale price has set new records intermittently.
Lack of demand
Due to the availability of 7000-8000 bags of cumin and increased buying by stockists, it was reported to rise in the market. However, a lack of demand is being felt by the exporters. Apart from India, Turkey and Syria are known as other cumin-producing countries worldwide, but now Afghanistan and Iran present a challenge.
Despite the recent spurt, the sale of cumin seeds has slowed. The active futures declined by 0.84% on reduced buying by speculators. Due to the low sowing of barley in Gujarat, there may be a change in the market sentiment. There is no hope of improvement in cumin in a spot in the coming one or two days.
The Cumin A Grade 99% Pure prices were Recorded at $3,06 per kg FOB.