Spot Jeera Prices Unchanged amid Consistent Arrivals, Futures Settle Mixed

Mumbai (Commodities Control) - Spot jeera prices were quoted unchanged on Monday in Unjha and Rajkot amid firm-to-steady arrivals on Monday, while futures ended mixed on Monday.

January futures settled nearly Rs 95 lower to end close to Rs 12,895, while March futures ended Rs 30 higher to settle at Rs 13,195. Jeera futures on the National Commodity and Derivatives Exchange closed higher in the last session due to steady demand from local stockists and a limited supply in the market as the season comes to an end.

Today Unjha mandi reported arrivals of 5,500 bags vs 4,500 bags on Monday. All the jeera varieties were priced flat. 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 second advance estimates by Gujarat state agriculture department suggests a 0.5% rise in 2020-21 output to 3,73,700 tonnes.

Export demand remains weak as stockists await arrivals of the new crop, which is expected to hit spot markets in February. This continues to cap the upside in prices.