- Open interest shifts from June to July contracts
- Arrivals jump 22%, increasing supply availability
India’s cumin market witnessed a softer trend during the week ended 29 May 2026 as a sharp increase in arrivals weighed on prices across the physical and futures markets. Higher supplies entering mandis improved availability and capped buying interest, leading to a decline in spot prices and most forward contracts.
Spot cumin prices fell by 0.8% w-o-w to INR 19,771/quintal on 29 May from INR 19,928/quintal a week earlier. Similarly, the July futures contract declined by 0.5% to INR 19,415/quintal, while the August contract eased by 0.4% to INR 19,635/quintal. In contrast, the June contract edged up by 0.2% to INR 19,195/quintal from INR 19,150/quintal, supported by short-covering ahead of expiry.
Arrivals rise, inventories build
Supply-side pressure remained the key market driver during the week. All-India cumin arrivals increased by 22.1% to 13,847 tonnes (t), compared with 11,338 t recorded on 22 May. The rise in arrivals enhanced market liquidity and reduced immediate concerns over supply tightness.
Stock positions also moved higher, increasing by 2.3% w-o-w to 7,375 t from 7,207 t. The rise indicates that traders continued to accumulate inventories despite the correction in prices, reflecting confidence in underlying market fundamentals.
Market participation shifts to forward months
Open interest in the June contract declined by 4.4% to 10,011 lots from 10,476 lots, indicating liquidation ahead of contract expiry. Meanwhile, July open interest surged 56.2% to 3,135 lots, while August open interest increased to 36 lots from nil. The shift highlights active rollover activity and sustained trader participation in deferred contracts despite near-term price weakness.
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