A panel at ISC-2023, organised by the All India Spices Exporters Forum, said cumin prices expected to be bullish while chilli prices may not rule as high as last year.
Global cumin production continues to be below the 5-million-tonnes mark with production in India, which makes up over 90 per cent of the total world production, also remaining below the pre-pandemic level.
Cumin production, which dropped 20 per cent last season to 3.88 mt, has been projected at 4.14 mt in the current season. As a result, global production will be higher at 4.35 mt against 4.08 mt.
But net supplies from India are projected 7 per cent lower keeping the prices bullish, the report prepared by ITC Ltd, said.
The acreage of Cumin, which is the largest spice in terms of area of cultivation, is higher by 4.6 per cent this season. The report said the area under Cumin increased 13 per cent in Rajasthan to 6.10 million hectares (mh). In Gujarat, the acreage dropped by 10 per cent to 2.75 mh. These are the two top producers in the country. Rajasthan is expected to be the top production with the output in the State estimated at 2.12 mt, while in Gujarat, it has been pegged at 2.02 mt.
The cumin seeds grade A prices were recorded at $4,19 per kg FOB.