News Crop Harvesting In Türkiye

Trade sources reveal that Türkiye and Syria have begun harvesting new cumin crops. Turkish cumin typically commands higher prices than Chinese cumin, and current reports suggest this trend continues. Consequently, India's cumin exports are likely to rise. In India's market, weak stockist demand has led to a price drop. Normal and machine-clean cumin declined, settling at $0,34-$0,35 per kg and $0,38-$0,41 per kg, respectively. Traders note sluggish cumin sales, impacted by intermittent price decline reports from Unjha.

Market Sentiment in Unjha

Dixit Patel, a trader at Unjha Mandi, reported limited cumin crop sales due to unattractive prices, leading to decreased arrivals. Currently, around 6,000-7,000 sacks are available. The latest figures show Unjha cumin prices at $0,65 per kg depending on quality. Despite lower prices, sales remain weak. The new crop in Türkiye and Syria might further affect market sentiment.

Increasing Cumin Exports

China has imported about 100 containers of cumin from India last month, even with its new crop. This indicates higher prices in China compared to Indian cumin. Trade sources suggest that many major cumin-consuming countries prefer Turkish cumin, which usually costs more than Chinese cumin. While Türkiye and Syria's new cumin crops have started, exact prices remain unknown. If current price trends continue, India's cumin exports to countries like China are expected to increase.

According to the Spices Board, India exported 39,182.42 tonnes of cumin worth $12.03 million in April 2024. This represents a 129% increase in quantity and a 96% rise in income compared to the same period last year. Trade sources predict that trading activities in cumin will increase after mid-August, potentially boosting prices and sales in domestic markets.