Business Daily from THE HINDU group of publications
Thursday, Jul 20, 2006
Business Daily from THE HINDU group of publications Thursday, Jul 20, 2006 |
|
|
|
|
|
|
|
Agri-Biz & Commodities
-
Spices & Condiments Industry & Economy - Exports & Imports Cumin seeds export up on global short supply G. K. Nair
Facts Exports up at 5,650 tonnes against 1,351 tonnes during the year-ago period. Value of shipments Rs 36.20 crore against Rs 10.90 crore. Prices may hover around $1,700 a tonne on low carryover stocks.
Kochi , July 19 Short supply in the world market has pushed up the exports of cumin seeds from the country during April-May this year. Shipments during the first two months of the current fiscal stood at 5,650 tonnes valued at Rs 36.20 crore against 1,351 tonnes worth Rs 10.90 crore in the same period a year ago. The unit value has, however, shown a decline to Rs 64.07 a kg from Rs 80.67 a kg.
MAY TOP TARGET
The performance has been against the target set for the current financial year of 15,000 tonnes valued at Rs 97.50 crore. "If the current trend is maintained the shipments of cumin seeds might cross the target," Spices Board sources told Business Line. The export of the commodity in 2005-06 was 12,000 tonnes valued at Rs 88 crore down from 13,750 tonnes worth Rs 101.90 crore the previous year. In India, it is harvested in the beginning of the year while in Turkey, Syria and Iran from May to August. The biggest consumer of cumin seeds is India and, hence, about 90 per cent of the production in the country is absorbed by the internal market.
Record output
It is mainly grown in Rajasthan and Gujarat and the total production dwindles between 1.5 lakh and two lakh tonnes. The highest-ever production was in 2001 - 02 when it touched 2.06 tonnes from a total area of 5.26 lakh hectares, market sources said. Other producing countries include those in North Africa, Iran, Indonesia, China, Turkey and Syria. According to International market sources, the carryover stock this year seems to be very little and, hence, prices are likely to hover around $1,700 a tonne in the coming months.
GLOBAL DEMAND
Indian cumin is exported in its natural as well as powdered forms, besides as essential oils. Shipments are mainly to the US, Singapore, Japan, UK, and West Asian countries. The world demand for cumin is said to be in the range of 12,000-15,000 tonnes and the important markets are Singapore, US, UK, Netherlands etc., they said. Cumin is an important ingredient in curry powder. Its oil also has minor applications, mainly as flavouring agent. It is used as an ingredient in several Ayurvedic medicines .These factors could be attributed to the high consumption of the commodity in the country, they added.
More Stories on : Spices & Condiments | Exports & Imports
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|