Despite bearish fundamentals, such as sluggish demand and high output expectations, cumin futures gained in the futures market. The futures prices rose due to value buying to gain parity with the spot prices, which were trading at a premium. Cumin is quoted at Rs.15100 ($305.64, €232.09, £194.41) per 100kg in the spot market, higher compared to futures price at around Rs.14600 ($295.52, €224.40, £187.97) per 100kg.
As of last Wednesday, Cumin arrivals in the Unjha market were steady at around 2500 bags. However, expectation of a higher crop this year may pressurize the price trend. In the meantime, expected rise in overseas demand and reports of crop damage in major cumin growing regions in India may limit sharp fall.