Cumin Market Shakeup: Arrival Plummets, Prices Slide, and Trade Shifts to Türkiye and Syria
The arrival of cumin in the Unjha market has dropped to less than 10 thousand bags, resulting in a decline in wholesale prices. Business sources attribute this to reduced demand from importing countries, partly due to a weaker domestic market. The new crop of cumin in Türkiye opened at a relatively low price, affecting the overall market. Traders highlight that both Türkiye and Syria have experienced a recent recession, leading to decreased sales and a decrease in prices.
The new crop of cumin in Türkiye opened at a relatively low price, affecting the overall market.
Experts commented, despite lower arrivals, the prices begin to falter because of less buying. This in turn has caused the domestic prices of cumin to fall by 10%.
Even though Turkish and Syrian cumin is considered to be of inferior quality to Indian cumin, the lower prices serve as a good opportunistic buying window for importers looking for cheaper cumin. (It is worthwhile to note that cumin rose by 70% in the past 6 months, so traders might just be waiting for this opportunity)
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