Ahmedabad, April 4 (CommoditiesControl): The demand of cumin, the masala king, intensifies as the spice season unfolds, propelling prices to soar by Rs 100 per 20 kg within a span of two days in Gujarat's mandis. Today alone witnessed an additional increase of Rs 50, signaling a robust demand ahead.
Traders attribute this surge to the ongoing peak of the spice season coupled with restricted arrivals in the state's mandis. With limited supply and increasing demand, cumin prices are on an upward trends, with potential further escalation if export demands materialize in the near future.
Reports indicate that approximately 30,000-32,000 bags of cumin are arriving in Unja. Rough cumin is priced between Rs 4000-4200 per 20 kg, while the best quality commands rates of Rs 4500-4800 per 20 kg. Notably, Bombay Bold cumin is fetching prices ranging from Rs 4800-5500 per 20 kg. Additionally, around 18,000 sacks originated from nearby businesses, further contributing to the market dynamics. Today's statewide cumin arrival stands at around 45,000 bags.
In Rajkot Mandi, arrivals amounted to approximately 2500 bags, with prices ranging from Rs 3900-4800. Similarly, Gondal Mandi observed an arrival of 800 bags, with prices hovering between Rs 4800-5000 per 20 kg, contingent upon quality.
Jeeraunjha contract for APR delivery settled at Rs 24480/quintal showing an rise of Rs 290 over previous close of Rs 24190/quintal,The contract moved in the range of Rs 24250-24850 for the day. Open interest decreased by -36 MT to 2079 MT, while trading volume decreased by -285 to 786 MT.
Jeeraunjha contract for MAY delivery settled at Rs 23520/quintal showing an rise of Rs 65 over previous close of Rs 23455/quintal,The contract moved in the range of Rs 23460-23990 for the day. Open interest increased by 168 MT to 1683 MT, while trading volume increased by 12 to 897 MT.
Jeeraunjha contract for JUN delivery settled at Rs 23500/quintal showing an rise of Rs 170 over previous close of Rs 23330/quintal,The contract moved in the range of Rs 23500-23500 for the day. Open interest was simillar by 0 MT to 66 MT, while trading volume decreased by -6 to 3 MT.
Currently The spread between APR and MAY contract is 960 Rs/quintal.
Currently The spread between MAY and JUN contract is 20 Rs/quintal.
Currently The spread between APR and JUN contract is 980 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 04-Apr-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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