Market Fluctuations Impact Cumin Arrivals
Recent downturns in the cumin market have led farmers to limit their crop sales. This decision has decreased cumin arrivals, especially in Unjha, a major spice market. Current market conditions suggest price changes. Experts expect a post-Holi market downturn.
Unjha’s market slowdown came after a peak in arrivals, between 52,000 and 55,000 bags. The peak has fallen, with Unjha’s wholesale prices dropping by $2,40-$3. Now, rates are $63-$63,60 per 20 kg. The price drop has led farmers to withhold produce. Market arrivals have decreased to around 35,000 to 37,000 bags.
Cultivation and Production Insights
Despite market challenges, Unjha expects cumin arrivals to increase, possibly between 60,000 and 70,000 bags. Gujarat has seen a significant increase in cumin cultivation this year. Sowing has reached 560,800 hectares, a 103.40% increase from last year.
Gujarat’s cumin sowing exceeded expectations, with more than a 25% increase. Local wholesale prices for common cumin have dropped to $3,18-$3,24 per quintal, after a decrease of $20,40-$21,60. Afghanistan and Iran are becoming strong competitors in the global cumin market, challenging traditional producers like Turkey and Syria.
Export Trends and Financial Implications
In the first nine months of the fiscal year, India produced 106,905.40 tonnes of cumin, generating $48,41 million. This is a decrease from the previous year’s 146,089.95 tonnes, which brought in $37,62 million. Post-Holi, the market may see price changes and a likely downturn.
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