- US-Iran agreement raises hopes of smoother trade flows
- Deferred futures contracts attract fresh participation
India’s cumin market traded on a firmer note d-o-d on 16 June 2026, supported by improving global sentiment and expectations of stronger export demand. Market confidence strengthened after the United States and Iran signed a peace agreement, raising hopes of smoother trade flows and increased buying interest from key importing regions in the Middle East. The development encouraged fresh purchases across domestic markets despite adequate supplies.
NCDEX spot cumin prices eased marginally w-o-w to INR 19,517/qtl on 12 June from INR 19,598/qtl on 05 June. However, sentiment improved sharply thereafter, with spot prices rising to INR 20,480/qtl on 16 June 2026 from INR 19,954/qtl on 15 June, reflecting renewed export optimism and stronger market participation.
Futures indicate positive demand expectations
The bullish sentiment was also visible in futures trading. The June contract gained INR 350/qtl to settle at INR 19,360/qtl, while July and August contracts increased by INR 325/qtl and INR 240/qtl, respectively, to INR 19,620/qtl and INR 19,740/qtl. Market participants reported growing interest in deferred contracts amid expectations of improved export inquiries in the coming weeks.
Open interest in the June contract declined significantly to 4,287 lots from 8,073 lots, indicating position rollover. Meanwhile, open interest in July and August contracts increased to 6,996 lots and 744 lots, respectively.
Supply remains comfortable
Cumin arrivals increased 38% w-o-w to 13,096 tonnes (t) from 9,458 t. Exchange-monitored stocks declined slightly to 7,222 t from 7,426 t.
Cumin prices are expected to remain firm in the near term, supported by improving export sentiment, stable geopolitical conditions, and active participation in deferred futures contracts.
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