Ahmedabad, May 10 (CommoditiesControl): Unjha Mandi, the primary hub of cumin in Gujarat, remained closed today due to Akshaya Tritiya celebrations. Many mandis across North Gujarat and Saurashtra also observed closures. However, in operational markets, the price of cumin softened, hovering around Rs 50 per 20 kg.
Traders attribute this softening to a surplus of cumin still stored with farmers. Additionally, sluggishness in export trade has further contributed to the subdued market conditions. As a result, the market is expected to maintain a trading range in the near term. The arrival of cumin has notably reduced, with minimal arrivals reported in Saurashtra apart from Gondal and Rajkot.
In Gondal Mandi, prices ranged from Rs 5,001 to Rs 5,291 per 20 kg against an arrival of 1,122 bags. Meanwhile, in Rajkot Mandi, where around 2,000 bags arrived, prices varied from Rs 4,400 to Rs 5,200 per 20 kg.
Jeeraunjha contract for JUN delivery settled at Rs 26125/quintal showing an rise of Rs 935 over previous close of Rs 25190/quintal,The contract moved in the range of Rs 25005-26470 for the day. Open interest increased by 366 MT to 3303 MT, while trading volume increased by 186 to 2676 MT.
Jeeraunjha contract for JUL delivery settled at Rs 26195/quintal showing an rise of Rs 1005 over previous close of Rs 25190/quintal,The contract moved in the range of Rs 25900-26195 for the day. Open interest increased by 3 MT to 15 MT, while trading volume increased by 6 to 6 MT.
Currently The spread between MAY and JUN contract is 885 Rs/quintal.
Currently The spread between JUN and JUL contract is -70 Rs/quintal.
Currently The spread between MAY and JUL contract is 815 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 10-May-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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