Jeera Gains Due To Tight Global Supply In Addition To Strong Domestic And Export Demand

New Delhi.  Jeera prices rose 1.33% to 27,030, driven by strong domestic and export demand amid tight global supplies. However, the potential for higher production may limit upside. Farmers holding stocks in anticipation of higher prices also supported the price increase. Jeera production is expected to rise by 30% to 85-90 million tonnes this season due to a sharp increase in cultivated area. The area under cultivation has increased by 104% in Gujarat and 16% in Rajasthan. Globally, jeera production has also increased, with China increasing its production from 28-30,000 tonnes to more than 55-60,000 tonnes.

Production has also increased in Syria, Turkey and Afghanistan, with new seeds expected in June and July. In India, the area under cultivation has increased by 30-35% in Mehsana, Banaskantha and Patan in Gujarat and by 35% in Jaisalmer, Barmer, Jodhpur and Ajmer in Rajasthan. Gujarat’s total Jeera production is expected to reach a record 408,000 tonnes, compared with 215,000 tonnes in 2022-23. Rajasthan’s production has also increased by 53%. Despite the increase in production, Jeera exports in April-May 2024 increased by 43.50% to 58,943.84 tonnes from the same period in 2023. However, exports in May 2024 fell by 44.99% from April 2024 and 15.64% from May 2023. In Unjha market, jeera price closed at Rs 27,401.05, down 0.7 per cent. Mandibhav