Ahmedabad, April 18 (CommoditiesControl): Today, there was a notable improvement in cumin prices in Gujarat attributed to local demand, marking a reversal from the recent downward trend. Local traders engaged in some buying activities at lower prices, that caused to an increase of Rs 50 per 20 kg in the market.
Traders noted that cumin prices had been on a downward trend in the past few days. However, with the emergence of demand in the market, prices saw a positive movement. While export activities are currently limited, an uptick in trading of cumin could provide further support to price increases. Recent high prices of cumin seeds have resulted in reduced sales by farmers.
In Unja Mandi, around 25,000 sacks of cumin were reported today, comprising 15,000 bags from Rajasthan and 10,000 bags from local arrivals in nearby areas. Trading activity was observed in the range of 15,000 to 17,000 sacks. Rough cumin was priced between Rs 3700 and Rs 3950 per 20 kg, while the best quality cumin commanded prices ranging from Rs 4250 to Rs 4450 per 20 kg. The price of Bombay Bold variety was reported at Rs 4450-5250 per 20 kg.
In Gondal Mandi, prices ranged from Rs 4131 to Rs 4371 per 20 kg with an arrival of 780 bags. Meanwhile, in Rajkot Mandi, where around 2000 bags arrived, prices ranged from Rs 3500 to Rs 4220 per 20 kg.
Jeeraunjha contract for APR delivery settled at Rs 23050/quintal showing an rise of Rs 630 over previous close of Rs 22420/quintal,The contract moved in the range of Rs 22700-23050 for the day. Open interest decreased by -96 MT to 240 MT, while trading volume increased by 99 to 114 MT.
Jeeraunjha contract for MAY delivery settled at Rs 22230/quintal showing an rise of Rs 330 over previous close of Rs 21900/quintal,The contract moved in the range of Rs 21815-22300 for the day. Open interest decreased by -36 MT to 2790 MT, while trading volume increased by 462 to 1074 MT.
Jeeraunjha contract for JUN delivery settled at Rs 21785/quintal showing an rise of Rs 385 over previous close of Rs 21400/quintal,The contract moved in the range of Rs 21450-21850 for the day. Open interest increased by 93 MT to 348 MT, while trading volume increased by 153 to 231 MT.
Currently The spread between APR and MAY contract is 820 Rs/quintal.
Currently The spread between MAY and JUN contract is 445 Rs/quintal.
Currently The spread between APR and JUN contract is 1265 Rs/quintal
JeeraUnjha stock in NCDEX accredited warehouse as on 18-Apr-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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