INDIA: The Meteorological Department forecasted that the monsoon season of 2022 will begin in the country by the end of the current month. After about a month, the monsoon is expected to reach Gujarat. Therefore, till the onset of the monsoon season, the cumin price is likely to remain strong.
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Current Scenario
In the major cumin-producing states like Gujarat and Rajasthan, the temperature has remained high for some time.
The Meteorological Department has predicted that Kerala’s monsoon season will likely reach 2022 by the end of May. Generally, about one and a half months after the onset of the monsoon in Kerala, the monsoon reaches Gujarat.
Even the consuming states are also facing scorching heat. Due to this, like other spices, there is a seasonal slowdown in the sales of cumin. In many states of North India, fears of the heatwave are also being expressed again.
The daily arrivals of the Kangya spot market were reported to be around 14-15 thousand sacks. Earlier it was getting 18-19 thousand bags. However, the arrivals have remained below 50 percent of the normal.
In Unjha, the arrival of cumin seeds has increased to about 12-13 thousand bags, and the price remains at the same level a day earlier.
The main reason is that the sowing of cumin seeds in Gujarat started with a delay of about 20-25 days compared to expected.
There has been a significant decline in the sowing of cumin in these states. It is due to a lack of attractive prices during the last season.
Due to the rising temperature, the support for the demand for December has started weakening.
On the other hand, there is a lack of export demand. It is being felt in the wholesale trade of cumin in the country. It is due to the scarcity of containers. The other worrying aspect is the increase in sea freight. At present, it has increased to almost five times. Due to skyrocketing freight rates, there is also a lack of export of cumin along with other major commodities.
Apart from India, Turkey and Syria are known as other fodder-producing countries worldwide, but now Afghanistan and Iran are also posing a challenge. In general, Turkey and Syria together produce about 35,000 tonnes of cumin. But their quality is lighter than Indian cumin.
Future
In the coming one or two days, there may be a break in the bearishness of cumin in the spot markets.
Price Trend
Even though the arrivals are comparatively low, the price of cumin seeds in Unjha spot markets remains at $2,61 – $2,63 per kg. In the past, this price has also seen a record high level of $2,71 per kg.
Cumin seeds here moderated by $0,01 per kg and fell to $2,86 per kg as stockists bought and weakened at the discounted price.
As speculators reduced buying, active futures declined by $0,03 per kg or 1.04 percent to $2,83 per kg.
Cumin A Grade 99% Pure
| Date | Price |
| May 23 – 24 | $2,92 per kg FOB |
| May 19 | $2,91 per kg FOB |
| May 16 – 18 | $2,90 per kg FOB |
| May 11 – 12 | $2,87 per kg FOB |
| May 9 – 10 | $2,89 per kg FOB |
| May 3 -5 | $2,95 per kg FOB |
