Jeera/Cumin International Crop Outlook
The world of cumin production is currently witnessing a significant global shift. As key cumin-producing nations divulge their yields for the season, the landscape of this critical spice market is undergoing a profound transformation. Thus it becomes quite important to understand the cumin market trends.
A Closer Look at the Production Numbers
China: 30,000 tons
Syria: 18,000 tons
Turkey: 5,000 tons
Iran: 4,500 tons
Afghanistan: 8,000 tons
At first glance, these figures may seem encouraging. However, a deeper analysis unveils a less sanguine reality. The depletion of all existing cumin stocks has left the market standing at a crucial crossroads. In this evolving scenario, India, with its robust production capabilities, emerges as the primary supplier for the next six months.
Cumin Market Undergoes a Seismic Shift
As we grapple with this abrupt recalibration of supply dynamics, industry insiders are gearing up for an extraordinary development—prices are on the verge of scaling unprecedented heights. A striking example is the remarkable 50 INR/kg surge witnessed in just the past week. This sharp ascent provides a compelling indicator of imminent price volatility, heralding potential opportunities that astute players in the cumin sector must be prepared to navigate.
There is a lot of bullishness expected from the cumin for now, however as the market adapts to new realities, we anticipate both challenges and opportunities. Stay connected for further insights and updates as we vigilantly monitor the transformations in the global cumin crop and spice market.
The Evolving Landscape of the Coriander Market
The coriander market is presently in a state of flux, with several pivotal factors exerting influence on both prices and demand. Here's an objective overview of the latest developments:
1. Iranian Production Decline: Iran's coriander production has experienced a staggering 70% drop compared to the previous year. Consequently, Iranian coriander is now priced $25 to $30 per ton higher than its Indian counterpart. This shift is particularly notable as Iran typically offers coriander at lower prices than India.
2. Russian Coriander Delay: While Indian coriander exports have faced subdued demand over the past six weeks, Russian coriander has garnered attention due to its competitive pricing. However, the landscape is evolving due to persistent delays in Russian coriander shipments. Out of the 150 containers scheduled for August shipment to India, only 40 have been dispatched, potentially signalling a resurgence in demand for Indian coriander.
3. Monsoon Impact: The Indian monsoon, or its absence, holds significant sway over the future of coriander cultivation. The prolonged absence of rainfall over the past 30 to 40 days is a cause for concern. Timely and sufficient rainfall in the next ten to fifteen days is critical to secure a prosperous Rabi crop. Failure on this front could result in a substantial reduction in coriander planting.
Coriander market's trajectory involves potential price fluctuations and a clearer outlook is expected post September due to two major reasons. First, we will have a better insight on the production estimates as the rains conclude and secondly, September is the time where most of the international stockists take positions until the next seasonal arrival. A lot of experts have project a slight decrease in the the short term roughly till October and a potential upside post October. Stay tuned for further updates on these dynamic Cumin and coriander market trends.