A Soft Season for Cumin Exporters
Traditionally, the demand for cumin aromatic treasure peaks during November-December. However, this time around, the spice bazaar is witnessing a rare phenomenon—soft demand. As the off-season embraces India, trade analysts foresee a challenging journey ahead. The upcoming months are expected to disclose the arrival of fresh cumin, offering both opportunities and uncertainties.
Dwindling Prices and Export Dilemma
Recently, the price of cumin has danced to a melancholy tune, taking a notable dip—a conspicuous absence of export demand coupled with a remarkable surge in cultivation. The market finds itself under the weight of surplus cumin, putting pressure on prices. The global spice arena, typically buzzing with fervor during November-December, is unusually calm, reflecting the subdued export scene.
Countries like Syria and Türkiye, significant exporters, deplete their cumin stocks between August and October. In contrast, India’s cumin sowing begins in November-December, with producers eagerly flooding the market with their aromatic yields.
Market Predictions for Cumin
The crystal ball of market predictions unveils diverse outcomes for Indian cumin. Some voices foresee an all-time high, reaching approximately $8,74 OR €6,50 per kilogram. However, amidst the rhythmic oscillations, whispers hint at a subsequent decline, potentially dropping.
As the season unfolds, the cumin fields of Gujarat and Rajasthan, the crowned producers, witness a spectacular rise in cultivation. This surge hints at a forthcoming abundance in production, promising both bounty and challenge. Analysts note unprecedented fluctuations in cumin prices, attributing to the supply and availability.
Indian Cumin in the Export Market
In the grand spice bazaar, Indian cumin proudly wears the crown of affordability. Last year, the turmoil in other cumin-exporting nations like China, Syria, and Afghanistan elevated Indian cumin’s status, making it the global export market’s budget-friendly sovereign. The export offer price of Indian cumin finds its way to the spice exporters of China. November witnessed a delightful shipment of 10 thousand tonnes, with expectations soaring for even more significant quantities in December and January. In the 2022-23 season, the Spices Board declares a triumphant production of 6,27,031 tonnes of cumin in India.
In the enchanting world of Indian cumin, the recent soft season predicts a contrasting destiny. Market predictions oscillate between soaring highs, potentially reaching approximately $8,74 or €6,50 per kilogram and a looming descent. In the middle of these aromatic fluctuations, India’s cumin proudly maintains its crown of affordability, basking in the aftermath of global turmoil.
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