India: Cumin Export up by 40% for 2020-21

After enjoying two consecutive price hikes for the spice, the market went steady during the last two days.

The Market Trend

•  In NCDEX, cumin seeds closed at $0,20 in January, increased by $0,20 in March, and decreased by $0,40 in April.
•  The market remained the same in all the spot markets of Rajasthan and Gujarat.
•  The demand among the buyers was slow.
• The weather was terrible in some areas in Gujarat, due to which there were fewer arrivals in the spot markets.
• Due to heavy rains in Rajasthan, Merta City, and Nagaur, spot markets remained closed.
• The overall arrival of the crop across the spot markets in India was less due to the bad weather.
• The other reason contributing to the lower supply of the crop in the market is the suppliers holding on to the stocks for the prices to become appreciative.
• According to the Spice Board India, the export of Cumin was up by 40 percent for 2020-21 while the production was down by 6.1 percent.

Prediction

• It is expected the prices will go up because the overall production of Cumin is less this year compared to last year.
• The agricultural department of Gujarat reported that compared to last year’s 454,469 hectares of sowing, the state had only 300,401 hectares.
•  The overall production for 2021-22 is estimated to be about 391,801 MT instead of last year’s 451,451 MT.

Price Trend

Cumin A Grade 99% Pure

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