Ahmedabad, March 13 (CommoditiesControl): Gujarat is experiencing a robust arrival of cumin, with a potential for further increase in arrivals from the upcoming week. Anticipation surrounds a substantial crop yield this year, with traders suggesting the possibility of over 1 crore bags, marking a 30-40% increase compared to last year. However, this surge in supply has led to sluggish export trade, with buyers opting to wait for the crop from Rajasthan. Consequently, cumin prices have been on a downward trend for several consecutive days.
Today, the state witnessed the arrival of 90,000-95,000 bags of cumin, contributing to a Rs 50 decrease in prices per 20 kg.
In Unja, around 50,000 bags of new cumin arrived, with rough cumin priced between Rs 4400-4550 per 20 kg, the best quality fetching Rs 5000-5300 per 20 kg, and Bombay Bold priced at Rs 5400-6150 per 20 kg. Nearby businesses reported a stock of 30,000 sacks.
Despite new arrivals being closed in Rajkot Mandi today, trading resumed with 5000 bags of pending goods being traded at prices ranging from Rs 4625-5206 per 20 kg. In Gondal Mandi, 5000 bags arrived, with prices ranging from Rs 4800-5200 per 20 kg, depending on quality.
Jeeraunjha contract for MAR delivery settled at Rs 26580/quintal showing an fall of Rs -550 over previous close of Rs 27130/quintal,The contract moved in the range of Rs 26500-27555 for the day. Open interest decreased by -150 MT to 222 MT, while trading volume decreased by -141 to 297 MT.
Jeeraunjha contract for APR delivery settled at Rs 25150/quintal showing an fall of Rs -330 over previous close of Rs 25480/quintal,The contract moved in the range of Rs 25110-25900 for the day. Open interest increased by 48 MT to 2766 MT, while trading volume increased by 306 to 1107 MT.
Jeeraunjha contract for MAY delivery settled at Rs 25100/quintal showing an fall of Rs -255 over previous close of Rs 25355/quintal,The contract moved in the range of Rs 25030-25600 for the day. Open interest increased by 75 MT to 555 MT, while trading volume increased by 90 to 141 MT.
Currently The spread between MAR and APR contract is 1430 Rs/quintal.
Currently The spread between APR and MAY contract is 50 Rs/quintal.
Currently The spread between MAR and MAY contract is 1480 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 13-Mar-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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