Cumin Prices Remain Stable Amid Gradual Increases in Arrivals

Ahmedabad, February 8 (CommoditiesControl): Cumin prices remained stable in Gujarat, with a gradual increase in arrivals, particularly in Gondal Mandi. The market is witnessing stability, and there is a reported quoting of export prices for new cumin, signaling potential improvement if trading activity picks up.

Currently, the cumin market is experiencing some activity in export demand, primarily driven by the upcoming Ramzan season. However, there is limited movement in futures due to the closure of the current month. As the expiry time for April futures in cumin approaches, market participants expect two-way movement in the market. In the futures market, speculators seem more inclined towards coriander bullishness.

More than 1200 bags of new cumin have arrived in Gondal Mandi, contributing to the slow but steady increase in arrivals. In Unjha, rough cumin prices ranged from Rs 4600-5400 per 20 kg, while the best quality was quoted at Rs 5550-6000 per 20 kg. Bombay Bold cumin was priced at Rs 6050-6700 per 20 kg. The arrival of old cumin in Unjha stood at around 2000 bags, with an additional 5000 sacks from nearby businesses. In Unjha, 500-600 bags of new cumin arrived with prices ranging from Rs 5200-7600 per 20 kg.

In Gondal Mandi, 1265 bags of new cumin were reported, commanding prices of Rs 5401-7501 per 20 kg. Meanwhile, in Rajkot Mandi, prices were in the range of Rs 5500-7000 per 20 kg against the arrival of 550 quintals. In Gondal Mandi, against the arrival of 249 quintals or 415 bags, prices varied from Rs 6001-6161 per 20 kg, depending on the quality.

Jeeraunjha contract for MAR delivery settled at Rs 27155/quintal showing an fall of Rs -415 over previous close of Rs 27570/quintal,The contract moved in the range of Rs 26900-27700 for the day. Open interest increased by 60 MT to 2319 MT, while trading volume decreased by -117 to 519 MT.

Jeeraunjha contract for APR delivery settled at Rs 26350/quintal showing an fall of Rs -105 over previous close of Rs 26455/quintal,The contract moved in the range of Rs 26300-26740 for the day. Open interest increased by 87 MT to 1005 MT, while trading volume increased by 21 to 210 MT.

Jeeraunjha contract for MAY delivery settled at Rs 26200/quintal showing an fall of Rs -195 over previous close of Rs 26395/quintal,The contract moved in the range of Rs 26200-26200 for the day. Open interest was simillar by 0 MT to 153 MT, while trading volume decreased by -24 to 0 MT.

Currently The spread between MAR and APR contract is 805 Rs/quintal.

Currently The spread between APR and MAY contract is 150 Rs/quintal.

Currently The spread between MAR and MAY contract is 955 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 08-Feb-2024, was 9 MT

(By Commoditiescontrol Bureau: +91 9820130172)