Cumin prices slowed down in futures and spot markets, farmers stopped goods

Due to excess production, there is no bullish sentiment in the market and the purchase of cumin at spot remained low. Due to which the prices of cumin have been seen in the spot futures and spot markets. Sources believe that due to farmers currently refraining from selling, the supply of cumin in the markets will remain equal in the coming days. Due to which there is no possibility of market boom. Market sources say that for now the market will remain weak by Rs 2/5. Slow and fast will continue. Slow-bullish predictions will be made after the harvest of Turkey and Syria. The arrival of new cumin in the above countries will start in the month of June-July. Due to high production, during the month of March, the daily arrival of cumin in the markets of the major producing state Gujarat had increased to more than 1 lakh bags, which has now come down to 40/50 thousand bags. Same was the case with the mandis of Rajasthan also. Earlier, the daily arrival of cumin in Merta and Nagaur Mandi of Rajasthan was 8/10 thousand bags daily, but due to continuously falling prices, at present the arrival has started increasing but due to continuously falling prices, at present the arrival has reduced to 2500/3000 bags. is left. Production Estimate: Last year, cumin production in the country was 55/60 lakh bags, which is being estimated to be more than 1 crore this year. Sources say that there is no possibility of further decline in the current prices of cumin because the market has become sluggish due to excess production and the prices in the mandis have come down to Rs 200/250 which was Rs 620/630 in the high price last year. Traders said that currently the prices of cumin will remain in a limited range and during April-May the prices will keep moving up and down by 3/5 rupees. Because with the improvement in prices, the arrivals in the mandis will start increasing and the prices will decrease again. Due to high production during the current season, the supply of cumin will remain good throughout the year. Due to low prices, the export of cumin this year is likely to be higher than last year. Due to the record rise last year, the export of cumin was affected and importers had to resort to imports to curb the rising prices. According to the data released by the Spices Board, 106905 tonnes of cumin was exported during April-December 2023, while 146089.95 tonnes were exported in April-December 2022. Due to falling prices, the export of cumin during January 2024 was 14094 tonnes whereas in January 2023 the export was 9325 tonnes.

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