Farmers Respond to Growing Demand with Increased Sales

With the end of the monsoon season, cumin trading has gained momentum across key markets in Gujarat. Farmers are now actively selling cumin, with daily arrivals reaching around 8,000 to 10,000 bags, slightly lower than the earlier 12,000 bags. The price of cumin has risen to USD 0,26-0,27 per kg, showing an increase from the previous gains of USD 0,03 per kg. Traders expect the prices to remain strong as the sowing season approaches, particularly around the Dussehra festival.

India Faces Global Competition but Holds Strong in Cumin Production

Stockists are showing renewed interest in the cumin market following recent price increases. In local markets, the price of cumin has surged by USD 1,60-1,61 per kg. This rise follows a dip earlier this season, where prices dropped by around USD 0,024-0,030 per kg. Though Türkiye and Syria remain global competitors, India's superior quality cumin continues to capture strong demand.

Cumin Exports Show Impressive Growth Despite Global Challenges

India is facing increased competition from countries like Afghanistan and Iran, while Türkiye and Syria jointly produce around 35,000 tonnes of cumin, though their quality is generally lighter. Between April and July 2024, India exported 97,168 tonnes of cumin, generating USD 3,28 per kg. This marks a significant improvement from the 61,697 tonnes exported in the same period last year, which earned USD 3,05 per kg. These figures solidify India's position as a dominant player in the global cumin market.

Cumin Prices Likely to Stay Strong in the Coming Weeks

Cumin prices are expected to remain robust as the sowing season begins, fueled by steady domestic demand and rising exports. With the monsoon retreating and new crop sowing on the horizon, traders anticipate continued strength in cumin pricing. However, the growing competition from international markets, particularly Afghanistan and Iran, may add pressure. For traders, this could be a good time to secure cumin stocks before prices rise further. Waiting for a dip may carry the risk of missing the most favorable pricing, especially as international demand keeps Indian cumin in high demand.

Conclusion: Time to Buy as Cumin Prices Continue to Strengthen

Given the current market conditions, traders are advised to buy cumin stocks now, before prices increase further as demand rises and supply tightens. The best opportunity for securing cumin at lower prices will likely be before the Dussehra (a festival in India) season, as new crop sowing will push prices higher. However, traders should also keep an eye on global competition, particularly from Afghanistan and Iran, which could influence future pricing trends. Acting now may prevent the need to purchase at even higher rates later in the season.





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