Cumin seed mart to ease

COMMODITY SPIKES

The overheated cumin seed market is likely to ease by at least Rs 500 this fortnight following traders' apprehensions over fresh booking. The price of premium spice variety surged to Rs 13,120 a quintal in the spot Unjha market on Saturday due to 35 per cent crop losses on account of heavy rains during the flowering time one-and-a-half month back.

Although the arrivals in the Unjha market are at 2500-3000 bags of 55 kgs each against the normal 4000-5000 bags, there are no buyers. There have been no import orders from the overseas market either. The total estimated production this year is 10-12 lakh bags as compared with 17-18 lakh bags last year. With carry-over stocks of 6-7 lakh bags, India would be able to meet the demand for 15-16 lakh bags.