Pressure from Rajasthan''s Cumin Arrival Impacts Gujarat Market; Prices Decline

Ahmedabad, March 22 (CommoditiesControl): The cumin market in Gujarat is experiencing a sense of apprehension, primarily stemming from the financial struggles faced by 3-4 generations of cumin growers in Rajkot. Additionally, with the closure of several markets due to March ending, arrivals from Gujarat mandis have reduced. However, today witnessed increased pressure on prices in Unjha due to the augmented arrival of new cumin seeds from Rajasthan. Consequently, cumin prices in Gujarat softened by Rs 50-100 per 20 kg.

Around 50,000-55,000 bags of cumin, each weighing 55 kg, arrive in Gujarat today. According to traders, out of the 40,000 bags of cumin arriving in Unjha, 25,000 bags were sourced from Rajasthan. The price range for rough cumin was Rs 4100-4350 per 20 kg, while the best quality commanded prices of Rs 4600-4900 per 20 kg. Bombay Bold cumin was priced at Rs 4900-5700 per 20 kg. However, actual trading volume is expected to be around 20,000 bags.

In Gondal Mandi, against an arrival of 1000 bags, cumin was traded at prices ranging from Rs 4650-5000 per 20 kg.



Jeeraunjha contract for APR delivery settled at Rs 24000/quintal showing an rise of Rs 170 over previous close of Rs 23830/quintal,The contract moved in the range of Rs 23550-24040 for the day. Open interest decreased by -99 MT to 2763 MT, while trading volume decreased by -462 to 600 MT.

Jeeraunjha contract for MAY delivery settled at Rs 23500/quintal showing an rise of Rs 70 over previous close of Rs 23430/quintal,The contract moved in the range of Rs 23300-23700 for the day. Open interest increased by 18 MT to 945 MT, while trading volume decreased by -201 to 87 MT.

Jeeraunjha contract for JUN delivery settled at Rs 22865/quintal showing an fall of Rs -705 over previous close of Rs 23570/quintal,The contract moved in the range of Rs 22865-23300 for the day. Open interest increased by 3 MT to 39 MT, while trading volume decreased by -3 to 6 MT.

Currently The spread between APR and MAY contract is 500 Rs/quintal.

Currently The spread between MAY and JUN contract is 635 Rs/quintal.

Currently The spread between APR and JUN contract is 1135 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 22-Mar-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)