Login ID:
Password:
Partner Login
Contact Us : 7066511911

Spot Jeera Prices Jump On Low Level Buying

14 Feb 2020 7:04 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - Spot jeera prices gained by Rs 20-25/20 kg at the major Unjha market in Gujarat on Friday due to low level buying.

The price of rough jeera was at Rs 2475-2575 per 20 kg, while NCDEX variety ruled at Rs 2630-2680 per 20 kg. Arrivals today stood at 5,000 bags.

The new jeera crop, which hit Unjha last week, is being sold nearly 25 percent lower from last year because of high moisture content in the new crop, traders said.

Around 150 bags (1 bag = 55 kg) of the new crop is daily arriving in the market. The price of new crop is being offered at Rs 11,500-13,000 per 100 kg. Last year, the new crop was sold at over Rs 15,500 per 100 kg.

Supply is coming from the Saurashtra region with a moisture level of 13 percent, against the normal of below 8 percent.

Traders expect demand for the new crop to pick up from March and delivery of export contracts for March-end will also start during the same time.

Supply is likely to peak after Mar 15, when daily arrivals of the new crop may reach 25,000 bags in the Unjha market, and may touch 50,000 bags by March-end. This may pull prices down.

Prices may fall more because a bumper harvest is expected in this season. Traders have estimated the country's jeera production in the ongoing season at 450,000-490,000 tonnes, compared with 385,000 tonnes a year ago.

Jeera for delivery in March at the National Commodity and Derivatives Exchange (NCDEX) ended higher by Rs 440 or 3.24 percent at Rs 14,020 per quintal, after moving in the range of Rs 14,025 and Rs 13,540 per quintal.



Commodity

Market

Variety

Min

Max

Min Previous Day

Max Previous Day

Arrival

Jeera

Unjha

Rough (20 Kg)

2475

2575

2450

2550

4500

Jeera

Unjha

Ncdex (20 Kg)

2630

2680

2610

2660

Jeera

Unjha

Best Quality (20 Kg)

2775

2875

2750

2850

Jeera

Unjha

Bomabay BOLD (20 Kg)

2930

3030

2910

3010

Jeera

Rajkot

Europe Quality (20 Kg)

2725

2775

2700

2750

250

Jeera

Rajkot

Singapore Quality (20 Kg)

2625

...


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Major Spices Markets Closed Amid Lockdown
more
Top 5 News
Balance Stock Of Pulses Under PSS With NAFED As On 26 M...
Edible Oil Discharge At Indian Port Slows Due To Lockdo...
Govt Fixes Sugar Sale Quota At 18 Lakh Tonnes For April...
ICE Raw Sugar Slips On Weaker Global Consumption Estim...
CBoT Soybean Settles Up For 2nd Consecutive Week Buoyed...
Top 5 Special Reports
USD/INR (Mar. 20) Loss of Upside Momentum Triggers a...
USD/INR (Mar. 20) Trending Higher / Next Potential R...
USD/INR (Mar. 20) Trending Higher / Next Potential R...
USD/INR (Mar. 20) Short-term Extended / Book Profits...
USD/MYR
Copyright © CC Commodity Info Services LLP. All rights reserved.