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Spot Jeera Declines By Rs 10-25/20Kgs in Unjha, Rajkot; Futures Extend Southward Move

24 Nov 2020 9:00 pm
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Mumbai (Commodities Control) - Spot jeera prices dropped across all the major mandis in the country. Most of the varieties declined by Rs 10-25 per 20 kgs across Unjha and Rajkot on Tuesday. Meanwhile, Futures ended lower on Monday.

On NCDEX, December and April futures moved lower by Rs 165 and Rs 170 to settle at Rs 13,965 and Rs 14,200 per Quintal.

Meanwhile the market is eyeing the sowing trends in the coming harvest. The latest sowing data from Gujarat showed that the acreage under Jeera stood at 50,496 hectares as on 17th November 2020, marking a sharp spurt of 156% compared to 19,723 hectares at the same time last year.

Today Unjha mandi reported arrivals of 14,000 bags of jeera, unchanged from the last session. Meanwhile all the jeera varieties shed Rs 15 per 20 kgs, here. Rough variety of Jeera was quoted at Rs. 2235-2305 per 20 kg. NCDEX Jeera was priced at Rs. 2350-2455 per 20 kg. Bombay Bold was quoted at Rs. 2605-2705 per 20 kg and Best quality was quoted at Rs 2555-2605.

In Rajkot, jeera varieties shed Rs 10-2. While Europe Quality fell Rs 25 to be quoted at Rs. 2530-2600, Singapore and Discolour shed Rs 10 per 20 Kgs each, to be quoted at Rs. 2440-2540 and Rs. 2390-2440 respectively. Meanwhile super quality was quoted at Rs. 2650-2700,Europe-Mundra at Rs. 2880-2900 and Singapore-Mundra at Rs. 2790-2800 per 20 kg. All the three varities were priced uncahnged. The mandi reported steady arrivals of 800 bags unchanged from last session.

Analysts see price pressure for jeera in the coming days. FISS estimates 2020-21 jeera output in Syria at 30,000 tonnes vs 17,000-18,000 tonnes last year and for Turkey the production is pegged at 12,000-15,000 tonnes vs 5,000-7,000 tonnes. Indian jeera benefitted in the last two years due to lower output in the two producing countries, however production rise in these will affect demand for Indian spice, thus capping further price rise.

Commodity

Market

Variety

Min

Max

Min

Max

Change(Max Today-Prev Max)

Arrival

Jeera

Unjha

Rough (20 Kg)

2235

2305

2250

2320

-15

14000

Jeera

Unjha

Ncdex (20 Kg)

2350

2455

2365

2470

-15

Jeera

Unjha

Best Quality (20 Kg)

2555

2605

2570

2620

-15

Jeera

Unjha

Bomabay BOLD (20 Kg)

2605

2705

2620

2720

-15

Jeera

Rajkot

Europe Quality (20 Kg)

2530

2600

2550

2625

-25

800

Jeera

Rajkot

Singapore Quality (20 Kg)

2430

2540

2450

2550

-10

Jeera

Rajkot

Discolor (20 Kg)

2340

2440

2350

2450

-10

Jeera

Rajkot

Super Quality (20 Kg)

2650

2700

2650

2700

0

Jeera

Rajkot

Europe - Mundra

2880

2900

2880

2900

0

Jeera

Rajkot

Singapore Mundra

2780

2800

2780

2800

0


       
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