Cumin Exports Surge Early in the Year

India’s cumin exports are booming in the first quarter of the 2024-25 financial year, marking a bright start for one of the country’s most popular spices. According to data from the Spices Board, there’s been a noticeable uptick in cumin shipments. But as always, experts caution that this momentum might not last, with signs of slowing demand already on the horizon.

Between April and June 2024, India exported a staggering 78,087.92 tonnes of cumin, bringing in USD 251,44 million. In comparison, the same period last year saw 53,399.64 tonnes shipped, which generated USD 220,10 million. That’s a hefty 46% jump in volume, though revenue growth was a more modest 14%. While exports have certainly increased, it’s the income boost that reflects the solid market performance so far.

Global Demand for Indian Cumin Starts to Cool

Jatin Patel, a seasoned trader from Unjha Mandi, shared that earlier this year, China had been a key buyer, keeping demand for Indian cumin strong. However, as new crops are being harvested in China, Türkiye, and Syria, the need for Indian cumin has started to taper off. Other major importing countries seem to be following suit, gradually pulling back on their orders.

“The market is definitely seeing weaker demand from key international buyers,” Patel noted. “This is adding pressure on our exports, and we’re beginning to feel the effects of it.”

New Cumin Crop in India: Uncertainty Looms

With Dussehra festival in India, the cumin sowing season is set to begin in Gujarat and Rajasthan. While prices in major mandis like Unjha have remained fairly low. Farmers are still managing to fetch reasonable rates for their produce. However, opinions vary on what this could mean for the upcoming season. Some traders expect cumin planting to stay on par with last year, while others are concerned that lower prices might discourage farmers from planting cumin in the same volume.

Recently, Unjha Mandi saw the arrival of around 4,000 to 5,000 bags of cumin, alongside additional supplies from cold storage. Despite these new supplies, prices have remained steady, ranging between USD 0,30 and 0,31 per kg, depending on the quality.

Cumin Prices Show Some Signs of Recovery

In local markets, there’s been a slight uptick in cumin prices as stockists have started making light purchases. Prices have climbed by USD 0,04 to 0,05 per kg, bringing the current range between USD 3,11 and 3,17 per kg. Many traders are optimistic that once the monsoon season wraps up, demand will pick up again, potentially providing a boost to the market in the coming months.

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