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Aug 05, 2020
Article: Rise in Indian cumin seed price
The Indian cumin seed fob spot price was INR14,575 per quintal (USD194.5/quintal) on July 31 at Jodhpur market (Rajasthan, North East), 4.2% more than on June 30. Meanwhile, the price closed at INR14,050/quintal on July 17, 1.8% more than on June 30.
Consumption is gradually recovering, although it remains weak.
Indian cumin seed exports reached 58,380 tonnes, worth USD118.0 million, from January-April 2020, 10.7%% less year-on-year in volume and 19.2% less in value, according to the Indian government. China regained its traditional role as the main importer of whole product, taking 29.6% of the total.
Updated daily futures market prices on India's National Commodity & Derivatives Exchange were:
- Deliveries in July closed at INR14,175/quintal on July 20, 3.2% more than on June 22.
- INR14,115/quintal for deliveries in August on July 31, 2.7% more than on June 30.
- INR14,050/quintal for deliveries in September on July 31, 1.6% more.
- INR14,185/quintal for deliveries in October on July 31, 1.9% more.
- INR14,320/quintal for deliveries in November on July 3, 3.6% more than on July.
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This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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