Cumin Prices Decline in Gujarat; Arrival of Over 20,000 Bags Noted

Ahmedabad, February 19 (CommoditiesControl): The continuous increase in cumin arrivals in Gujarat has led to a downward trend in its prices, with the market softening by Rs 50-100 per 20 kg. Traders are expressing concerns about the market breaking further as arrivals are expected to rise in the coming days. Today, more than 20,000 bags of cumin, each weighing 55 kg, arrived in the state.

Traders note that, apart from Mahesana and Unja in Gujarat, there are reports of a good cumin crop in Bikaner, Jodhpur, Barmer, and Balotra districts of Rajasthan. Due to the high prices of cumin last year, many farmers planted cumin this year. However, compared to last year, prices have decreased, leading to the possibility of a bumper production of cumin this year. Weather conditions have not been favorable for the cumin crop so far. Additionally, speculators attempting to capitalize on unfavorable weather conditions are facing less market support and financial constraints. Consequently, traders are advised to sell their goods at the current market price.

In Unja, around 7,900-8,900 bags of new cumin were reported, with rough cumin priced between Rs 4,800-5,100 per 20 kg, the best quality ranging from Rs 5,600-6,000 per 20 kg, and Bombay Bold priced at Rs 6,000-6,800 per 20 kg. In Rajkot mandi, prices ranged from Rs 4,500-6,200 per 20 kg against an arrival of 3,200 quintals. In Gondal Mandi, with 6,500 bags incoming and 3,000 bags pending, prices varied from Rs 5,526-6,476 per 20 kg, depending on quality.



Jeeraunjha contract for MAR delivery settled at Rs 25800/quintal showing an rise of Rs 420 over previous close of Rs 25380/quintal,The contract moved in the range of Rs 25210-25990 for the day. Open interest decreased by -51 MT to 2346 MT, while trading volume increased by 150 to 348 MT.

Jeeraunjha contract for APR delivery settled at Rs 24950/quintal showing an rise of Rs 600 over previous close of Rs 24350/quintal,The contract moved in the range of Rs 24200-24995 for the day. Open interest increased by 48 MT to 1341 MT, while trading volume increased by 132 to 261 MT.

Jeeraunjha contract for MAY delivery settled at Rs 24290/quintal showing an fall of Rs -60 over previous close of Rs 24350/quintal,The contract moved in the range of Rs 23885-24700 for the day. Open interest increased by 9 MT to 174 MT, while trading volume increased by 24 to 24 MT.

Currently The spread between MAR and APR contract is 850 Rs/quintal.

Currently The spread between APR and MAY contract is 660 Rs/quintal.

Currently The spread between MAR and MAY contract is 1510 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 19-Feb-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)