After having exported huge quantity of jeera (cumin seed) last year, jeera exports from the country this fiscal has slowed down substantially. Market players peg the exports in the range of 4 to 5 lakh bags (one bag weighing 50 kg) for the current season (October-June) in the financial year 2008-09.
"Jeera exports in the previous season was very good at 7-8 lakh bags due to shortage of the commodity in the international market. However, the export may decline to around 4 to 5 lakh bags. So far, 2.5 lakh to 3 lakh bags have already been exported," said BK Patel, a leading jeera exporter from Rajkot.
Despite rise in jeera acreage this year, the yield took a major hit on account of erratic climatic conditions. As per the market estimates, jeera production in the country is likely to hover around 23 to 25 lakh bags, which excludes 5 lakh carry forward stock. As against this, output of jeera was 27 to 28 lakh bags in 2007-08 and the carry forward stock was in the range of 7 to 10 lakh bags.
The export inquiries did not pick up at the onset of the season due to global recession. Apart from this, prices of the commodity have remained firm all through year. At present, jeera (Singapore quality) are being quoted at around Rs 2,150 to Rs. 2,200 per 20 kg. The prices had touched Rs 2,400 to Rs 2,450 earlier this season. "Exports are slow largely on account of high prices and lower yield," said Ramesh Mukhi, former president of Unjha Chamber of Commerce and Industry. Unjha is the leading trading hub for jeera in the country.
Many international buyers are currently adopting wait and watch policy as the arrivals of new crop in Syria and Turkey are about to hit the market in June. There are mixed reports about the output in these two jeera growing countries.
"Currently, exports are at present slow as overseas buyers are waiting for Turkish and Syrian crop to come into markets. Clear picture will only after crop from these two countries hits market," said Vishnu Patel, director at Unjha Agriculture Produce Marketing Committee (APMC).