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Spot Jeera Holds Steady in Unjha & Rajkot amid Firm Arrivals, Futures End in Red

26 Feb 2021 5:18 pm
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Mumbai (Commodities Control) - On the last day of the week, Spot jeera managed to end steady, barring Singapore-Mundra in Rajkot that dropped Rs 50/20Kgs. The spice prices surged by Rs 25/20kgs in Unjha and Rs 20/20 Kgs in Rajkot on Thursday. However futures settled shapely lower today, after two straight sessions of price gains.

It is to be noted that Unjha mandi registered steady arrivals of 11,500 bags on Friday, while Rajkot reported arrivals of 5,000 bags vs 4,500 bags in the last session.

Spice traders reveal that festive demand is keenly watched, as farm arrivals have started to pick pace and the market awaits better quality spice with reduced moisture content.

Jeera futures settled weaker by Rs 180/Quintal in March’21 futures at Rs 13,480 and Rs 145/Quintal lower at Rs 13,540 in April futures on Friday evening. The spice settled higher in the past two trading sessions due to extended short covering and firm cues from the spot market, where prices rose due to strong demand from bulk buyers.


Having said so, traders reveal that prices are seen steady over the next few weeks as demand is likely to be firm amid a gradual increase in supply.

Spice traders reveal that bookings have started to take place in anticipation of reduction in moisture content of the new arrivals, amid rising temperature in the producing regions.

Traders reveal that the new arrivals currently have a moisture content of over 12%, which is likely to reduce in a fortnight’s time.


Commodity

Market

Variety

Price

Price

Prev_Price

Prev_Price

Change(Max Today-Prev Max)

Arrival

Jeera

Unjha

Rough (20 Kg)

2110

2180

2110

2180

0

11500

Jeera

Unjha

Ncdex (20 Kg)

2230

2330

2230

2330

0

Jeera

Unjha

Best Quality (20 Kg)

2430

2480

2430

2480

0

Jeera

Unjha

Bomabay BOLD (20 Kg)

2505

2595

2505

2595

0

Jeera

Rajkot

Europe Quality (20 Kg)

2450

2550

2450

2550

0

5000

Jeera

Rajkot

Singapore Quality (20 Kg)

2350

2450

2350

2450

0

Jeera

Rajkot

Discolor (20 Kg)

2250

2350

2150

2350

0

Jeera

Rajkot

Super Quality (20 Kg)

2550

2600

2550

2600

0

Jeera

Rajkot

Europe - Mundra

2800

2850

2800

2850

0

Jeera

Rajkot

Singapore Mundra

2650

2700

2700

2750

-50



       
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