Spot Jeera Quoted Unchanged in Unjha, Rajkot; Futures End Mixed

Mumbai (Commodities Control) - Spot jeera prices were quoted unchanged on Wednesday in Unjha, following a price gain of Rs 20 per Quintal in the last session. Prices continue to be steady in Rajkot for the eighth session in a row amid steady arrivals. Futures settled mixed on Wednesday.

January futures settled Rs 60 higher to end close to Rs 12,800, while March futures ended Rs 75 lower to settle at Rs 13,225. Most-active Jeera contract closed lower due to subdued export demand. Export demand remains weak as stockists await arrivals of the new crop. The new crop is expected to hit spot markets in February.

Meanwhile, spot prices hold steady due to limited supply in the market as the end of the season approaches.

Today Unjha mandi reported arrivals of 6,500 bags, unchanged from the last session. All the jeera varieties were priced flat on Wednesday. Rough variety of Jeera was quoted at Rs. 2,100-2,170 per 20 kg. NCDEX Jeera was priced at Rs. 2,220-2,320 per 20 kg. Bombay Bold was quoted at Rs. 2480-2570 per 20 kg and Best quality was quoted at Rs 2,420-2,470.

In Rajkot, all the jeera varieties are steady. The mandi reported arrivals of 350 bags, unchanged from the last session.

The latest rabi sowing data in Gujarat showed that total area under rabi crops stood at 45.38 lakh hectares (lh) as on 11th January 2021, recording a rise of around 11% compared to 39.11 lh in the same period last year. The area under Cumin touched 4.68 lh.