Cumin contracts gained on short covering and reports of improvement in export demand. The spot price was quoted at Rs.14600 ($295.70, €225.86, £188.54) per quintal. However, arrivals in Unjha were around 3800 bags, higher from previous day. Out of the total arrivals, 800 bags were from fresh crop. Prices are likely to decline as new crop arrivals have started in the local market and output is expected to be higher this season. Cumin production in the year 2012-13 is seen at two hundred twenty five thousand tonnes compared with one hundred seventy six thousand tonnes last year.
On the other hand demand from overseas markets is expected to rise further due to fall in prices. In April-December 2011, India exported 31500 tonnes of Cumin, up 45 percent from a year ago.