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Spot Jeera Prices Steady amid Increased Arrivals, Festive Demand; Futures End Moderately Higher

8 Mar 2021 7:28 pm
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Mumbai (Commodities Control) - Spot jeera reported a muted state to the week at the pex mandis of Unjha and Rajkot amid increased arrivals. It is to be noted that after a sharp upward price rally until Thursday last week, jeera prices dropped Rs 30/20Kgs in Rajkot mandi amid weekend sell-off and increased arrivals on Friday


Meanwhile, near-month futures contracts ended moderately higher on Monday as march’21 on NCDEX settled at Rs 13890 and April contract ended at Rs 14,055, up Rs 30. On Friday, Jeera contracts ended higher on the National Commodity and Derivatives Exchange as demand from bulk buyers is likely to improve ahead of the month of Ramzan and expectations of crop arrivals of better quality, traders said.


Spot jeera prices are quoted unchanged amid increased arrivals of 11,000 ags vs 8,000 bags in the last session. It is to be noted that last week in Rajkot,the spice upped Rs 85-95/20Kgs until Thursday.


Unjha mandi registered increased arrivals of 24,500 bags, unchanged from the last session. Arrivals in Unjha have doubled since early last week.


Spice traders agree to robust demand due to shortage of premium quality and festive demand as Ramadan falls earlier this year.Traders admit to steady demand from local stockists, spice millers and exporters. They also note that the overall demand scenario is good.


Meanwhile analysts see a neutral short term price trend for jeera on weekly charts. They forecast a support at Rs 12,800 and resistance at Rs 15,300/Quintal.


Commodity

Market

Variety

Price

Price

Prev_Price

Prev_Price

Change(Max Today-Prev Max)

Arrival

Jeera

Unjha

Rough (20 Kg)

2135

2205

2135

2205

0

24500

Jeera

Unjha

Ncdex (20 Kg)

2255

2355

2255

2355

0

Jeera

Unjha

Best Quality (20 Kg)

2455

2505

2455

2505

0

Jeera

Unjha

Bomabay BOLD (20 Kg)

2530

2620

2530

2620

0

Jeera

Rajkot

Europe Quality (20 Kg)

2505

2635

2505

2635

0

11000

Jeera

Rajkot

Singapore Quality (20 Kg)

2405

2505

2405

2505

0

Jeera

Rajkot

Discolor (20 Kg)

2305

2405

2305

2405

0

Jeera

Rajkot

Super Quality (20 Kg)

2605

2665

2605

2665

0

Jeera

Rajkot

Europe - Mundra

2865

2905

2865

2905

0

Jeera

Rajkot

Singapore Mundra

2705

2765

2705

2765

0



       
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