The sowing of Indian cumin in Rajasthan is estimated to increase by 10 to 15% in the current year because the farmers got a very high price of cumin in the current year. Cumin stock in Rajasthan is estimated to be 0.15 million to 0.175 million bags on the first of December, and more than 50% of the cumin stock in Rajasthan is lying with the farmers. Some farmers have kept cumin safe due to increased holding power, and there are speculations about the rise in cumin. Thus, the cumin traders or stockists do not have vast cumin stock.
Bullish trend in cumin
The export demand for cumin is very regular at present. Recently, cumin was traded between Afghanistan and Pakistan in the last three-four days, but there is no significant demand for Indian cumin at present in the international market. The price of Indian cumin has increased by $100 to $3050 per ton in the global market due to two factors. Primarily, the bullish trend in the cumin and, secondarily, the sowing statistics.
There is no possibility of any demand from China until mid-December because they have already imported Cumin from India from June to August. And the shipment of these goods is currently reaching China. According to the reports, they have roughly imported 450-500 containers of cumin, and after the withdrawal of cumin stock in the past, a new demand for cumin will emerge from China.
Future Scenario
Experts predict that new export demand will arise in Indian cumin after December 20 due to the festival of Ramzan being earlier in the current year. It will take more time to reach cumin in Gulf countries, and the demand in those countries will be visible in December, while the demand in Dubai and other nearby countries will be seen in January.
At present, the price of cumin will remain consolidated in the market. After December, when the export demand blooms, there will be an upside rise in cumin.
The Cumin seeds grade A prices were recorded at $3,08 per kg FOB.