Despite the current state of the cumin price in the market, analysts are hopeful that the scenario will likely change for India towards the end of the year. Cumin traders and farmers can then breathe a sigh of relief as India is expected to be the leading cumin exporter and taking the maximum share in the international market.
Apart from India, all the other cumin-producing countries had a weak production. Iran has produced tiny and selling at $3.200 pmt FOB. Afghanistan is unable to export given the internal political strife and less production in the year. Syria produced quite less quantity, and the rate is $3.300 pmt FOB while Turkey is selling at $2.750 pmt FOB.
India is selling cumin at $1.900 pmt FOB in the international market compared to all these prices. Hence it is expected that once the restrictions imposed due to the coronavirus and its third wave impact are alleviated, the demand for India’s cumin in the international market is going to increase.
Gulf countries currently purchase Indian cumin between $1.870 and $1.875 pmt FOB, but it is likely to dip by $20-25. However, that won’t affect the Indian market much in the long run. Also, the closed border between Afghanistan and Pakistan has caused a slump in the cumin demand from Pakistan.
However, in the next few months, there will be a significant increase in Indian cumin in the African and Middle-East countries. Furthermore, the countries imported from Turkey and Syria are now looking towards Indian cumin for import.