Cumin Prices Softens in Gujarat Amid Increased Arrivals

Ahmedabad, February 23 (Commodities Control): The cumin market is witnessing a softening trend, marked by a decline in both spot and futures prices. This can be attributed to the continuous increase in cumin arrivals, with 25,000 bags arriving in Unja alone today. When considering arrivals from other markets, the total reached around 38,000-40,000 bags, each weighing 55kg.

Traders point out that the market is experiencing a price decline of Rs 100 per 20 kg due to limited demand for high-quality goods. The overall market trends depends on the performance of cumin exports in the upcoming days.

In Unja, around 25,000 bags of new cumin were reported to arrive, with prices varying based on quality. Rough cumin was priced at Rs 4,800-5,100 per 20 kg, the best quality at Rs 5,600-6,100 per 20 kg, and Bombay Bold at Rs 6,100-6,900 per 20 kg. The traders noted the trade volume to be in the range of 20,000-22,000 bags.

In Rajkot Mandi, where around 3,500 quintals arrived, prices were recorded at Rs 4,400-6,180 per 20 kg. Meanwhile, in Gondal Mandi, with 7,500 bags incoming and 5,000 bags pending, prices ranged from Rs 4,000-6,451 per 20 kg, depending on quality.

Jeeraunjha contract for MAR delivery settled at Rs 26290/quintal showing an fall of Rs -110 over previous close of Rs 26400/quintal,The contract moved in the range of Rs 25800-26390 for the day. Open interest decreased by -147 MT to 2106 MT, while trading volume decreased by -267 to 378 MT.

Jeeraunjha contract for APR delivery settled at Rs 25105/quintal showing an fall of Rs -295 over previous close of Rs 25400/quintal,The contract moved in the range of Rs 24900-25640 for the day. Open interest increased by 21 MT to 1470 MT, while trading volume decreased by -135 to 195 MT.

Jeeraunjha contract for MAY delivery settled at Rs 25180/quintal showing an fall of Rs -1035 over previous close of Rs 26215/quintal,The contract moved in the range of Rs 25180-25180 for the day. Open interest increased by 3 MT to 192 MT, while trading volume decreased by -30 to 0 MT.

Currently The spread between MAR and APR contract is 1185 Rs/quintal.

Currently The spread between APR and MAY contract is -75 Rs/quintal.

Currently The spread between MAR and MAY contract is 1110 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 23-Feb-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)