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Jeera (Cumin seed) News - Jeera Market Sentiment and AgriWatch Expectation
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Jeera Market Sentiment and AgriWatch Expectation

By and large firm sentiment was witnessed in Jeera spot market during the last week. Lower arrivals reported in the spot markets as farmers and stockists are holding their stock on expectation of further high prices. Jeera supply fell by 4.42% last week in the major spot markets, as stockists and farmers were holding their stocks in the spot market on expectations of higher prices in coming days. As of now 30% to 35% new Jeera traded at Unjha Mandi.
 
As per trade sources, good export demand reported from Bangladesh and China at Unjha Mandi. From the last 7 to 10 days around 300 MT Jeera exported, at average prices INR 21,500 to INR 21,600 per quintal.
 
Jeera average prices in Rajasthan major market reported up as compared to last week due to good quality. Buyers are more active for Rajasthan Jeera variety as compared to Gujarat variety due to quality concern. Current year in Gujarat reports of Jeera quality deteriorated (turned into black colour) due to hot temperature which supported the prices. 
 
AgriWatch expects demand likely to be good in the spot market in coming months as ending stocks for 2022-23 Marketing Year reported lower by 50.79%. 
 
AgriWatch expects at Unjha benchmark market Jeera NCDEX quality prices to trade in a range between INR 21,200 – 22,200 per quintal (Low – High) in the coming days and for medium term prices likely to go up to INR 24,500 to 25,000 per quintal. We expect that normal export demand will continue going ahead. If there is an abrupt increase in export demand, the prices may trade higher than our forecast range.