Bangladesh: Cumin market weakens sharply as spice imports surge ahead of Eid

• Cumin prices fall nearly 20% as aggressive imports trigger oversupply
• More than 26,000 t of spices imported through Hili during Jan-May

Bangladesh’s cumin market entered a sharp correction phase during 11-16 May ahead of Eid-ul-Azha, with rising imports, improved supply availability, and slower downstream buying dragging prices lower across key wholesale hubs. The decline has become increasingly visible in Chattogram’s Chaktai-Khatunganj market and at Hili Land Port, major gateways for Bangladesh’s spice trade. Traders said the market shifted rapidly from shortage-driven buying to oversupply within weeks, leading to heavy stock liquidation pressure.

Import surge weighs on cumin prices

According to Hili Customs data, Bangladesh imported more than 26,000 tonnes (t) of spices from India between 1 January and 15 May, including cumin, cardamom, raisins, and cashews. Cumin and small cardamom alone accounted for nearly 7,500 t, sharply improving market availability ahead of peak Eid consumption demand.

Wholesale cumin prices in Khatunganj declined to around BDT 530/kg ($4.15/kg or about INR 415-420/kg), while some traders reportedly liquidated stocks near BDT 500/kg despite legal import costs, including duties, estimated near BDT 530/kg. Retail cumin prices also corrected sharply to BDT 540/kg from nearly BDT 650-700/kg earlier this month, reflecting a decline of around 17-20% within weeks.

Informal trade pressures formal importers

Market participants attributed the downturn to oversupply, weaker speculative buying, and increasing unofficial cross-border inflows through Sylhet, Cumilla, and Feni, which significantly pressured formal importers’ margins. Traders estimated government revenue losses from illegally imported cumin at nearly BDT 220-250/kg in unpaid duties.

The broader spice complex also softened alongside cumin. Small cardamom traded at BDT 2,400-2,500/kg at Hili and BDT 3,700-3,900/kg in Khatunganj, while cloves eased to BDT 1,260-1,400/kg and black pepper traded near BDT 1,010-1,200/kg. Cinnamon prices slipped to BDT 420-550/kg depending on origin and quality.

Outlook

Traders expect cumin prices to remain under pressure in the near term as Bangladesh’s supply flows stay comfortable and wholesalers continue destocking before Eid demand peaks. However, any tightening in cross-border supply or sudden festive buying could temporarily stabilise prices in late May and early June.