Ahmedabad, February 15 (CommoditiesControl): The cumin market in Gujarat is witnessing a significant decline in prices due to a continuous surge in arrivals of new cumin in the state. Traders express concerns over the potential for further price declines if demand does not match the increasing arrivals. Today, the price of cumin experienced a decline, dropping by Rs 100-150 per 20 kg due to the mounting pressure from the incoming supply.
Business reports indicate that around 10,000 bags of new cumin have reached Unja. The pricing for new cumin varieties varied, with rough cumin being quoted at Rs 5,000-5,300 per 20 kg, the best quality at Rs 5,800-6,200 per 20 kg, and Bombay Bold at Rs 6,200-7,000 per 20 kg. Trade volumes reported at 11,000-12,000 sacks in the mandi.
In Rajkot Mandi, where 2,100 quintals of cumin arrived, prices were recorded at Rs 4,800-6,200 per 20 kg. Meanwhile, in Gondal Mandi, with an arrival of 5,000 bags, prices ranged from Rs 5,400-6,301 per 20 kg, contingent on the quality.
Jeeraunjha contract for MAR delivery settled at Rs 25470/quintal showing an rise of Rs 320 over previous close of Rs 25150/quintal,The contract moved in the range of Rs 24715-25800 for the day. Open interest increased by 3 MT to 2415 MT, while trading volume decreased by -582 to 513 MT.J
eeraunjha contract for APR delivery settled at Rs 24280/quintal showing an rise of Rs 65 over previous close of Rs 24215/quintal,The contract moved in the range of Rs 23820-24635 for the day. Open interest increased by 72 MT to 1260 MT, while trading volume decreased by -126 to 183 MT.
Jeeraunjha contract for MAY delivery settled at Rs 24105/quintal showing an fall of Rs -870 over previous close of Rs 24975/quintal,The contract moved in the range of Rs 24000-24195 for the day. Open interest increased by 15 MT to 165 MT, while trading volume decreased by -6 to 0 MT.
Currently The spread between MAR and APR contract is 1190 Rs/quintal.
Currently The spread between APR and MAY contract is 175 Rs/quintal.
Currently The spread between MAR and MAY contract is 1365 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 15-Feb-2024, was NA MT
(By CommoditiesControl Bureau; +91-9820130172)
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