The Mintec price of Indian cumin at the Unjha market climbed to INR 19,400/100kg (USD 256/100kg) on 30th March, up 5% month-on-month (m-o-m) and an increase of 55% year-on-year (y-o-y). Prices have been primarily supported by concerns over a smaller planted area, coupled with erratic weather conditions which have further hampered crop prospects. More recently, market prices have been boosted by solid local demand and lower crop arrivals, estimated by the Indian-based company Agriwatch at 19,300 tonnes between 1st March and 25th March 2022 (Unjha market), compared with 43,900 tonnes during the same period in 2021, down 56% y-o-y.
The cumin-dedicated production areas of Gujarat and Rajasthan, the two key growing states of India where the crop is currently being harvested, are anticipated to decline from last year as farmers shifted to more lucrative crops such as oilseeds due to low cumin prices at the time of sowing.
Agriwatch projects the 2022 Indian cumin output to reach approximately 316,300 tonnes, compared with 391,800 tonnes produced in 2021, a decrease of almost 20% y-o-y. Additionally, ending stocks are set to decline substantially in the current campaign.