Cumin price hits new high at Rs.59,000, turns into gold for farmers

The price of cumin has broken its own record in the Merta Agricultural Produce Market of Nagaur district of Rajasthan, selling at Rs 59,000 per quintal. In the last two weeks, there has been a jump of Rs 14,000 per quintal in the price of cumin.  Experts says that price may very soon cross Rs 60,000 per quintal.

From this point of view, the price of cumin has reached close to the price of 10 gram gold. The price of 24 carat gold is currently running around Rs 60,000 per 10 gram. However, cumin cannot be compared to gold. This comparison is only symbolic.

According to cumin traders, there is a steady demand in the market. Because of this, till two weeks back, cumin which was sold at Rs 40-45,000 per quintal has reached Rs 59,000 per quintal. Experts say that the biggest reason behind this is increase in international demand. Import demand from China has increased in a big way. Apart from this, the demand from West Asian and Gulf countries has also increased. Earlier cumin was supplied to West Asian and Gulf countries from Syria and Turkey, but this time there too, like India, production has decreased due to sudden change in weather and supply is much less than demand. For this reason, the price of cumin seeds is continuously creating new records in the domestic market.

Bhagirath Chowdhary, founding director of the Jodhpur-based South Asia Biotechnology Centre, which works for the cause of cumin farmers, told Rural Voice, “The impact of international demand is clearly visible on the domestic price of cumin. China imports cumin from India in large quantities. The boom that is being recorded in the market at present is due to traders and stockists. Farmers have already sold their crops. Some farmers have stocks lying with them which they are now bringing to the market. The current rally in prices is being taken advantage of mainly by traders and stockists."

According to Chowdhary, the quality of cumin seeds of Nagaur and its nearby districts is very good. This is one of the reason for higher prices in Merta Mandi, while the biggest market of cumin is in Unjha in Gujarat.

For last two-three years, farmers are getting better price of cumin. Two years ago, farmers used to get Rs 15-16,000 per quintal, which has now doubled. This year farmers have got an average price of Rs 30-35,000 per quintal.

In Rajasthan, the average production is 4-5 quintals per hectare, while in Gujarat it is up to 7-8 quintals per hectare. As far as the cost is concerned, the average cost per hectare is Rs 20-25,000.

Earlier, when the new crop started arriving in the mandis, on April 10, cumin made a record of Rs 50,000 per quintal in Merta Mandi. The rise in prices has started again from June 8. On June 8, the price in Merta mandi increased by Rs 6,000 per quintal and reached Rs 51,000 per quintal from Rs 45,000 per quintal. Five days later, on June 13, the price increased by another Rs 4,000 a quintal to Rs 55,000 and on June 20 it reached Rs 56,000. On June 21, cumin price broke all previous records and made a new record of Rs 59,000 per quintal.

India ranks first in the production of cumin in the world. Gujarat and Rajasthan have the highest production in the country. Cumin production in the country is estimated to decline to 7 lakh tonnes in 2022-23 from 7.25 lakh tonnes in 2021-22. In 2020-21 cumin production was 7.95 lakh tonnes and 9.12 lakh tonnes in 2019-20.