Price cut triggers sharp rise in exports
Iran exported 9,638 mt of green cumin worth USD 24.466 million between 20 March 2020 and 21 March 2021. This is 236% up on the export volume of 2,869 mt and 130% up on the export value of USD 10.620 million in the same period in 2019/2020. The rise is driven by a decline in export prices. While average export prices still ranged at USD 3.70/kg in 2019/2020, they declined sharply by 31.3% to USD 2.54/kg in 2020/2021.
As prices remained stable in the domestic market in 2020/2021 and the price of foreign currencies incre