MUMBAI (Commoditiescontrol) - India cumin seed exports as on August of the current financial year (2016-17) begins from April surged 63.41 percent at 61,374.80 metric tonnes, according to latest data released by commerce ministry.
The country has shipped around 37,558.11 per metric same period a year ago.
India cumin seed exports surged this season due to empty pipeline in overseas market due to poor imports in FY 2015-16. The country's cumin seed exports during 2015-16 was 94,352.47 metric tonnes, down from 156,555.99 metric tonnes in 2014-15.
According to trade sources India could export around 1 lakh tonne cumin seed season 2016-17 as geo-political tension in Turkey and Syria may restrict supply, thereby making India the single most preferred source of cumin seed supply in the world market.
Cumin seed November futures was last traded 0.1 percent, or Rs 20 down at Rs 17,170/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX). Arrivals of the cumin seed at the benchmark Unjha market is lower due to low stocks and fag end season.
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(By Commoditiescontrol Bureau; +91-22-40015533)
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