Export of cumin during 2008-09 is likely to be considerably higher than the previous year with supply short in other regions, Spices Board sources said. Exports are expected to maintain trends seen in the first quarter, which clocked a 280 % increase in quantity and 253% increase in value when compared to corresponding period last fiscal, S Kannan of the Spices Board told FE.
India exported 15,000 tonne of cumin during the three months which was valued at Rs 145.82 crore as against 3,950 tonne valued at Rs 41.27 crore. The reported crop failure in other major producing countries like Syria, Turkey, and Iran helped India to achieve the level of export in cumin, board sources said. The board has fixed an export target of 28,000 tonne in volume and Rs 275 crore in value for the current fiscal.
However, cumin traders are circumspect about the volume of exports with domestic prices ruling high. ?India may achieve an increase in value, but the volume is likely to be low with strong domestic demand,? an exporter said. It is also reported that farmers are stocking the commodity with reports of global shortage, he added. Nalini Rao of Angel Commodities feels that exports are likely to increase once domestic prices ease a bit.