India: Cumin prices decline on profit booking despite lower arrivals

• Need-based buying, limited export inquiries weigh on prices
• Lower arrivals, tighter exchange stocks fail to revive demand

India’s cumin prices corrected during the week ended 25 June 2026 as profit booking after the recent rally and subdued buying interest outweighed supportive supply fundamentals. Despite lower arrivals at key mandis and a decline in exchange-monitored stocks, limited export enquiries and need-based domestic procurement kept market sentiment weak, resulting in a broad-based correction in both spot and futures prices.

Price movement

The NCDEX spot price declined by INR 174/t (0.8%) w-o-w to INR 20,500/t on 25 June from INR 20,674/t a week earlier. The July futures contract registered the steepest correction, falling by INR 765/t (3.6%) to INR 20,200/t. August and September contracts also eased by INR 665/t and INR 565/t, respectively, reflecting selling pressure across the forward curve as traders booked profits following the expiry of the June contract.

Supply and market participation

Physical supply continued to tighten during the week. Arrivals at major producing markets fell to 10,235 t from 12,592 t in the previous week, while exchange-monitored stocks declined to 6,746 t from 6,979 t. However, the reduction in availability failed to support prices as buyers largely restricted purchases to immediate requirements amid muted export demand.

Open interest data indicated a rollover of positions rather than fresh buying. The June contract expired during the week, while July open interest declined to 8,931 lots from 9,399 lots, suggesting long liquidation. Meanwhile, open interest in the August contract increased to 2,556 lots from 1,551 lots, reflecting a shift in market participation to deferred contracts.

Outlook

Cumin prices are expected to remain influenced by export enquiries and domestic procurement trends. Although lower arrivals and declining exchange stocks continue to provide underlying support, a sustained recovery will depend on stronger buying interest from exporters and stockists.