Current Price May Consolidate and Form A Range

Cumin prices have been stable, ranging between $3,30 and $3,60 per kg for the last one and a half months. The average market remains in a limited range, with no significant fluctuations anticipated in the coming days. The current daily income of cumin in Unjha is about 20,000 bags, which is considered very high for the off-season.

Export Business and Impact of Global Production

Export business in cumin is experiencing a slowdown.

• Last week, Pakistan had minimal trade, and China only traded 100 to 130 containers in the past 15 days.
• The cumin crop in China is robust this year, estimated at 70,000 to 80,000 tons, almost double compared to last year.
• Chinese purchases are currently low, indicating sufficient stock in China.
• No cumin exports to China are expected, and Indian cumin prices are likely to remain low.

Farmer Sales and Price Fluctuations

Farmers have sold only 30 to 40 percent of their cumin stock. Prices fluctuate between $6,60 and $7,00 per 20 kg. There has been no significant increase in spot prices despite speculative rises in futures. As the market grows, selling increases, leading to price drops. This cycle is expected to continue.

Export demand for cumin remains low. With improved cultivation in many countries, including China, import trade in cumin is expected from July. This situation suggests that prices will not increase significantly.

Limited Price Movement Anticipated

Prices are stable due to low export and local demand. Futures show strength, but spot prices remain unchanged. The daily income of cumin at all centers in Rajasthan is 10,000 to 15,000 bags, with prices between $3,12 and $3,36 per kg. Approximately 40 percent of the current crop is entering the market, with farmers selling to buy seeds for planting. Prices are expected to fluctuate by $0,24 to $0,30 per kg, but no major movement is expected.With a large crop in China and sufficient local stock, import trade is unlikely. Stockists and farmers will make purchasing and selling decisions in July based on the global crop situation, affecting the local market.

Overall, cumin prices are anticipated to remain stable between $3,30 and $3,60 per kg due to a balanced supply and demand scenario. The market is influenced by high daily incomes, reduced export business, and substantial cumin stocks in China.