Ahmedabad, April 3 (CommoditiesControl): Cumin prices saw a notable improvement, surging by Rs 50 per 20 kg, attributed to decreased arrivals in Gujarat compared to the previous day. Market analysts indicate that while export trade in cumin remains sluggish due to low prices, local traders are cautiously purchasing only required quantities. This caution stems from the anticipation of ample cumin supply throughout the year, given the substantial crop yield expected.
Exporters report that the export price of new cumin at Jebel Ali port stands at $2950-2975 per ton of CIF Singapore quality. Meanwhile, at Mundra Port, the export price for the new crop of 2024, Singapore quality one percent, with loading scheduled for April 10, is Rs 24,250 per quintal.
In Unja, around 30,000-32,000 bags of cumin were reported to arrive. The price of rough cumin ranged from Rs 3950-4150 per 20 kg, while the best quality commanded prices of Rs 4450-4750 per 20 kg. Bombay Bold variety was quoted at Rs 4750-5250 per 20 kg. Additionally, around 18,000 sacks originated from nearby businesses, bringing the total arrivals in the state to about 45,000 bags.
In Rajkot mandi, around 2000 bags of cumin arrived, priced between Rs 3800-4850 per 20 kg depending on quality. Gondal Mandi reported an arrival of 400 bags, with prices ranging from Rs 4800-5000 per 20 kg.
Jeeraunjha contract for APR delivery settled at Rs 24260/quintal showing an rise of Rs 795 over previous close of Rs 23465/quintal,The contract moved in the range of Rs 23700-24540 for the day. Open interest decreased by -246 MT to 2115 MT, while trading volume increased by 576 to 1071 MT.
Jeeraunjha contract for MAY delivery settled at Rs 23445/quintal showing an rise of Rs 560 over previous close of Rs 22885/quintal,The contract moved in the range of Rs 23105-23745 for the day. Open interest increased by 171 MT to 1515 MT, while trading volume increased by 531 to 885 MT
Jeeraunjha contract for JUN delivery settled at Rs 23500/quintal showing an rise of Rs 750 over previous close of Rs 22750/quintal,The contract moved in the range of Rs 23000-23500 for the day. Open interest increased by 6 MT to 66 MT, while trading volume increased by 6 to 9 MT.
Currently The spread between APR and MAY contract is 815 Rs/quintal
Currently The spread between MAY and JUN contract is -55 Rs/quintal.
Currently The spread between APR and JUN contract is 760 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 03-Apr-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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