In a meeting held in Udaipur, Rajasthan, the production of cumin was expected to be 5,478 million tonnes. As per market experts, the assumption has been correct. Farmers have been selling spice at a high price.
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Current Scenario
Last year the arrival of cumin bags was 8,7 million. In the market already gone, 60 to 70 percent of the produce.
From February to March, the price was bearish for cumin, during which Bangladesh and Pakistan made a significant purchase at $2,20 – $2,30 per kg.
In the last three months, there has been a drop in purchases in the international market. It is due to the price hike. Also, the purchasing countries have been waiting for the arrival of cumin from Syria, Turkey, and Afghanistan.
Due to the weather, there is less cumin production in Syria and Turkey. However, this year the production is expected to be between four to five tonnes from these two countries combined. Typically Syria produces 12 to 15 tonnes while Turkey yields about 7 to 8 tonnes.
In Afghanistan, cumin is produced in two states, out of which, due to drought, one failed to produce any crop. The other state has produced only between 5 – 6 tonnes.
Iran and Pakistan mainly purchase Afghanistan’s cumin, but due to a lack of production, these countries have to fulfill their demand from India.
Future
Given the current situation of cumin production in Afghanistan, Syria, and Turkey, the purchasing states have no option but to look towards India to fulfill their demand. As a result, the price is expected to increase further from $2,9 per kg, the current price in the international market for Indian cumin.
