Prices have declined sharply in India this week with a grade cumin with a 99% purity now trading at USD 4,395/mt FOB India. Issue is that buyers prefer to wait for the new crop. Small traders, for whom prices have simply been too high, will be able to participate in the market again as soon as the new crop arrives in a few weeks' time.
While demand has driven the market up in the last few weeks, prices have now stabilised. Turmeric, Salem, double polished is currently trading at USD 990/mt FOB India. The unusually long