India: Cumin loses flavor as COVID-19 second wave hits its price

Jeera (cumin) was enjoying a high price earlier this month, but with the second Covid-19 wave hitting India, the price of this spice is spiralling down. This is due to a glut of jeera in the market and relatively lower demand, which has happened because of Covid-19 anxiety and possible lockdown concerns. Last week, futures prices were Rs. 14,175 per quintal. They went down by 4% in the last three sessions. According to a trader, jeera crop has been good this season and the arrivals are higher than last year. There is good overseas demand too, but the second Coronavirus wave has brought in much uncertainty regarding demand. According to reports, Unjha market witnessed the arrival of 42,663,70 tonnes from March 1 and April 10. This is around 32% higher than 32,145 tonnes reported in the same period last year. Prices of jeera were rising last month, hence, arrivals increased too. But now, things seem bleak. Gujarat and Rajasthan are key producers of jeera. The Federation of Indian ...