After most markets were closed for Janmashtami, the Hindu festival celebrating the birth of Krishna, last week, cumin prices have surged this week. A grade cumin with a 99% purity is trading at USD 7,650/mt FOB India, USD 350/mt higher than last week.
As the price gaps between India and China have closed in recent weeks, traders in India are confident that they will be able to sell at higher rates. The declines witnessed in recent weeks have also prompted many traders to stock up, which has added support to the market. As many holidays will be celebrat