As export demand has a slowdown in cumin, the boom will break, and there will be a new hike after the international demand starts in November.
For the last fifteen days, the overseas demand from all major importing countries has stopped due to various reasons, and with the good rains in India going on, the domestic demand has slowed down a bit, so the market has been paused at present. Experts state that the uptrend is not over yet. There is no possibility of a slowdown in cumin as there is no stock of cumin in the whole world except in India.
China bought cumin seeds from India in June-July and August in huge quantities, so China’s demand is at a standstill. China bought around 250 to 300 containers of cumin in three months. After this quantity is completed, a new round of China’s demand will come in November-December. A new phase of China’s demand uptrend is expected.
Before Bangladesh’s currency fluctuations became too huge at present, the purchase of cumin from Bangladesh was also minimized, although the purchase of cumin by road started slowly. Imports from other countries have slowed down due to the payment crisis
Turkey is now running out of stock and stock traders have seized it because the price is constantly increasing. Cumin price is being offered at 5000$ per tonne by Turkish traders at present.
Afghanistan has only 250 to 300 tonnes of cumin stock, and Pakistan is only buying cumin from Afghanistan. Afghanistan jeera is currently being offered for $4000 to $4100.
Ramzan festivals will be in March-2023 and the demand for Ramzan in January-February is going to be fulfilled from the old cumin of India. No country except India can give cumin for Ramadan to all the Muslim countries of the world. Therefore, experts state that the cumin market will be on an uptrend in the long run.
The cumin prices were recorded at $3,23 per kg FOB.
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