- Spot and futures prices decline week on week amid subdued demand
- Open interest shifts sharply to June contract ahead of expiry
India cumin prices on NCDEX declined during the week ended 15 May 2026 as higher arrivals, rising warehouse stocks, and rollover activity ahead of May contract expiry pressured sentiment. Weak export inquiries and cautious domestic buying further limited support to the market.
NCDEX spot cumin prices fell by INR 345/t week on week to INR 19,939/t on 15 May from INR 20,284/t on 8 May. The May-20 futures contract declined by INR 430/t to INR 19,465/t, while the Jun-19 contract eased by INR 385/t to INR 19,760/t.
Supply flow remains steady
All-India cumin arrivals increased to 11,594 tonnes on 15 May compared with 11,364 tonnes a week earlier, reflecting steady supply flow from Gujarat and Rajasthan. Meanwhile, NCDEX warehouse stock positions also increased to 7,126 tonnes from 6,988 tonnes during the same period, indicating comfortable availability in the exchange delivery system.
Market participants said higher arrivals and increasing warehouse stocks reduced buying urgency in both spot and futures markets.
Rollover activity intensifies
Open interest data showed active rollover from the May contract to June ahead of expiry. Open interest in the May-20 contract dropped sharply to 1,278 lots from 5,655 lots, while the Jun-19 contract increased to 10,305 lots from 6,087 lots, indicating traders shifting positions to deferred contracts.
Export demand stays slow
Export buying remained subdued during the week, with overseas buyers purchasing cautiously amid expectations of stable supplies and softer prices. Traders said domestic demand also remained hand-to-mouth as buyers waited for further price correction.
In the short term, cumin prices are expected to remain rangebound to weak due to comfortable arrivals, higher warehouse stocks, and subdued export demand. However, any improvement in overseas buying interest could lend limited support to prices.
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