January has started on a high note for the Cumin market with consecutive days of price hikes during the first week. After that, the price stays steady for a couple of days, and then the commodity goes on an appreciative mode. However, on Tuesday, January 12, the price for all the varieties of Cumin went downward. On Wednesday, however, it came as a relief to the traders and farmers of the crop as the market went steady.
Market Sentiment
- On Monday, January 10, the market for Cumin was on an appreciative mode since traders, stockists, processors were seen to be active.
- It is believed that the price of the commodity has increased due to the report of sowing coverage being reduced.
- Also, with export demand staying firm in the market, the price of the spice increased.
- The arrival of fewer bags has also moved the price up for Cumin on Monday.
- On Tuesday, after the market experienced the slump, it regained and went stable with activity intensifying due to the arrival of less crop in most of the spot markets.
- On Tuesday, only Unjha had reported having more arrivals of Cumin bags than expected.
Arrivals
On Monday, the arrival of Cumin bags in the two major spot markets was as follows:
- Unjha reported having received 7,800 bags
- Rajkot received only 1,200 bags.
Prediction
- With good weather conditions in Rajasthan, the crop is reported to be healthy.
- Some areas in Gujarat earlier had excessive rain, which could have damaged the crop, but the exact condition is unknown.
- The decrease in crop quantity is expected to move the market in a bullish mode in the coming days.
- The traders and farmers are waiting for the price to go up before releasing the crop.
Price
On Monday in Unjha, the price increased by $0,54, and in Rajkot, the price was $0,81 higher per 20 kgs.
Cumin A Grade 99% Pure
| Date | Price |
| January 13 | $2,230 per kg FOB |
| January 10 | $2,225 per kg FOB |
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