The wholesale price of cumin has risen recently due to strong demand from exporters. The trend has picked up mainly in North India during the monsoon. As a result, the export prices have increased, supporting the spot prices of cumin. Experts predict that In the coming days also, there is a possibility of a bullish trend in cumin.
The southern parts of Gujarat, like Rajkot, Navsari, and Kutch, have been receiving heavy rainfall for the past few days. There is also information about floods in many areas, including Navsari and Rajkot. Reports of good rain have also started coming in other areas of the state. Amidst this, the domestic demand is also increasing for cumin. There is also increased demand for cumin from China.
On the other hand, due to the lack of containers, the fear of meeting the export demand is expressed in Unjha, the country’s largest wholesale business of cumin.
All these factors have resulted in the cumin price setting a new record in Unjha, the benchmark spot market for spice.
Due to some sluggish buying after the recent uptick, the daily arrival of cumin seeds in the Unjha spot market has also come down slightly to about 6-8 thousand sacks.
The latest arrivals are also not negatively impacting the wholesale price of cumin. Also, the off-take is reported to be quite good.
There was a significant decline in the sowing of cumin in this state due to a lack of interest from the farmers due to the non-availability of attractive prices during the last season. But the overall reports of low sowing with good current demand, the market is expected to be bullish in the coming days.
The Coriander Eagle 5% split prices were recorded at $3,05 per kg FOB
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