Buyers are remaining active in the Cumin spot market, and thus, stocks for the 2022~2023 marketing year are likely to come to an end. In addition, a new kind of Cumin, expected to enter the market in the last week of February and onwards, is likely to be traded at higher prices. The rise in export demand, the decline in the 2020/2021 production, and carryover stock estimates kept trade sentiments strong. Syria, a major producer of cumin, has faced a decrease in output by roughly 25%-30% in 2021 versus the previous year because of political instability. Such market backgrounds will likely increase port demand for Indian cumin in the upcoming months.
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