Cumin / Jeera Prices July 08

(Indicative Jeera Prices in US$ PMT FOB port, India)

31st July - US$ 3050-3125
The cumin moved up with good demand from exporters to keep their international commitments. But the future market showed negative sentiments.

29th July - US$ 3025-3100
The cumin prices showed some correction after rising quite high. The depriciating rupee too played a role in pulling down export prices. The prices may remain firm for sometime till Ramadan starts and may go soft during Ramadan as Middle east purchases tend to slow down during this period.

25th july - US$ 3085-3175
The assurance from different quarters that no ban will be put on futures trading of agricultural items lifted the cumin to upper level. The depriciation of rupee though checked that it still remains attractive for foreign importers.

24th July - US$ 3050-3100
Though the prices in the local market for cumin were down due to the talks of ban on its future trading, the strengthening rupee kept the cumin prices at same level for international buyers.

21st July - US$ 3050-3100
The cumin is moving upwards backed up by good export demand and lower crop output of other producers. The ease of political tension in Middle east might pull back jeera prices in near future.

18th July - US$ 2975-3050
The cumin prices are going very strong due to good export demand and supply concerns from Middle east producers.

16th July - US$ 2925-3025
The cumin spot and future markets are showing very strong trend locally.

11th July - 2925-3025
The prices of cumin are not ready to cool down due to good export demand and lower crop output expected in competiting countries. Also with political tension in Iran, one of the major exporter of cumin, the prices might increase in coming days too. The rising rupee this week is also making the cumin dearer. The future market is also going very strong.

7th July - 2800-2900
The cumin prices right now are going strong so farmers are finding it lucarative to offload more stocks bringing down the prices. The futures too went down. But with lower crop expected in Syria and Turkey, the long term market for cumin looks quite positive.

5th July - US$ 2825-2925
Though the local prices of cumin showed some fluctuations but it was not major one to impact the export prices which remained unchanged. Right now the cumin market is going strong giving good opportunity for farmers to offload their stocks. This time it is assumed that farmers have not brought their whole produce to the market during harvesting period which ends in May but stocked it for better realisation.

1st July - US$ 2825-2925
The cumin prices though showed fall of around just 1% in local markets, the depriciating value of rupee pulled down its dollar prices to create bigger impact on export prices. The rising oil prices has been the main reason for appreciating dollar.

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