The recession will not last due to the current year’s strong fundamentals of cumin seeds.
Most of the cumin seeds of the current season have arrived in the market. However, in the current year, no one has stock as the price of cumin has been high since the beginning of the season. At present, 60% of the cumin deal that has taken place in the market is of old cumin.
All the stock of old cumin is lying in the warehouse of the commodity exchange; at present, the price of cumin in the spot market is higher compared to the futures.
Since Bakri Eid’s subscription has been completed in Bangladesh, the demand has decreased. But at least 15 containers are being processed daily in China.
There has been good export demand for cumin for the last 8-10 days. As a result, there is a lot of business for cumin in the commodity exchange warehouse.
Also, the cumin crop has failed in Syria, due to which there is currently no offer of Syrian cumin in the international market. Even Turkey’s cumin crop has been falling for the last two years, which also failed in the current year. There is very little cumin crop in Iran too.
New cumin will not come into the world until next March. India’s domestic and world demands must be fulfilled from the remaining cumin seeds. After this, there is a possibility of a considerable increase in cumin.
The Cumin A Grade 99% Pure prices were Recorded at $2,85 per kg FOB