Export Demand Boosts Cumin Prices in Gujarat

Ahmedabad, April 24 (CommoditiesControl): Cumin prices in Gujarat witnessed a notable uptick as export demand surged, coupled with a decline in local arrivals. The price of cumin surged by Rs. 50 per 20 kg on Wednesday.

Exporters in Rajkot noted a robust uptrend in cumin exports over the past few days, with daily transactions of 15-20 containers, each container weighing 27 tonnes. China emerged as the primary buyer from India, alongside demand from Gulf countries. Today, approximately 17-20 containers of cumin were traded at Rs. 4,600 per 20 kg upon reaching Mundra Port.

Traders observed a continuous decline in cumin arrivals, attributing the price surge to the increased demand. The local market experienced a significant decrease in cumin arrivals, with a notable arrivals from Rajasthan.

In the Unja market, around 18,000 bags, each weighing 55 kg, were recorded, predominantly sourced from Rajasthan, with around 10,000-12,000 bags and 5,000-6,000 bags from Rajasthan and local markets, respectively. Prices ranged from Rs. 3,650-3,950 per 20 kg for rough cumin, Rs. 4,300-4,500 per 20 kg for the best quality, and Rs. 4,500-5,300 per 20 kg for Bombay Bold.

In the Gondal market, prices stood at Rs. 4,271-4,531 per 20 kg, facing an arrival of 1,016 bags. Meanwhile, in the Rajkot market, around 1,640 bags were recorded, with prices ranging from Rs. 3,650-4,390 per 20 kg.

Dhaniya contract for MAY delivery settled at Rs 7600/quintal showing an rise of Rs 12 over previous close of Rs 7588/quintal,The contract moved in the range of Rs 7530-7632 for the day. Open interest decreased by -215 MT to 24590 MT, while trading volume decreased by -2345 to 1580 MT.

Dhaniya contract for JUN delivery settled at Rs 7664/quintal showing an was simillar of Rs 0 over previous close of Rs 7664/quintal,The contract moved in the range of Rs 7618-7700 for the day. Open interest increased by 420 MT to 2770 MT, while trading volume decreased by -450 to 630 MT.

Currently The spread between MAY and JUN contract is -64 Rs/quintal.

Dhaniya stock in NCDEX accredited warehouse as on 24-Apr-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)