High prices in Türkiye and Syria are expected to boost India’s cumin exports, as they begin harvesting new crops. Turkish cumin, typically more expensive than Chinese cumin, is expected to increase India’s cumin exports. However, weak stockist demand in India has caused price declines, with normal and machine-clean cumin prices dropping to $0.34-$0.35 per kg and $0.38-$0.41 per kg, respectively. Traders are highlighting slow cumin sales due to unattractive prices. India exported 39,182.42 tonnes of cumin worth $12.03 million in April 2024, with trade sources predicting increased trading activities after mid-August.

In Unjha, a key cumin market, the sentiment remains bearish due to unattractive prices. A trader at Unjha Mandi, reported limited cumin crop sales, resulting in decreased arrivals with about 6,000-7,000 sacks currently available. Unjha cumin prices hover around $0.65 per kg, depending on quality. Despite the lower prices, sales remain weak, and the new crop in Türkiye and Syria might further impact market sentiment.

Last month, China imported about 100 containers of cumin from India, despite its new crop, indicating that Chinese cumin prices are higher than Indian cumin prices. Many major cumin-consuming countries prefer Turkish cumin, which typically costs more than Chinese cumin. While Türkiye and Syria’s new cumin crops have started, exact prices remain unknown. If current price trends persist, 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 cumin trading activities will increase after mid-August, potentially boosting prices and sales in domestic markets.

The new crop harvesting in Türkiye and Syria is a significant development for the global cumin market. With Turkish cumin typically commanding higher prices than its Chinese counterpart, this situation presents an opportunity for Indian exporters. However, the weak stockist demand in India and the resulting price declines pose challenges. Normal and machine-clean cumin prices have fallen to $0.34-$0.35 per kg and $0.38-$0.41 per kg, respectively, causing traders to report sluggish sales due to unattractive prices.

Unjha Mandi, a crucial cumin trading hub, has seen limited crop sales ,about 6,000-7,000 sacks are currently available. The prices in Unjha are around $0.65 per kg, yet sales remain slow, and the influx of new crops from Türkiye and Syria might further influence market dynamics. Last month, China imported about 100 containers of cumin from India, suggesting that Indian cumin is more competitively priced than Chinese cumin.

As many major cumin-consuming countries prefer Turkish cumin, which is usually more expensive, the new crops in Türkiye and Syria could shift market preferences and dynamics. While the exact prices of these new crops are still unknown, if the current price trends continue, India’s cumin exports to markets like China are likely to rise.

India’s cumin export figures are promising, with 39,182.42 tonnes worth $12.03 million exported in April 2024. This marks a substantial 129% increase in quantity and a 96% rise in revenue compared to the same period last year. Trade sources anticipate increased trading activities after mid-August, which could positively impact prices and sales in the domestic market.

Source: Commodity Board