Cumin Arrivals from Rajasthan Increase in Gujarat, Prices Decline

Ahmedabad, April 9 (CommoditiesControl): The cumin market in Gujarat is experiencing a surge in arrivals from Rajasthan, leading to a softening of prices amid a backdrop of sluggish export trade. Reports indicate that Unja Mandi in Gujarat has witnessed a substantial arrival of cumin shipments, with an estimated 25,000 sacks out of 38,000 believed to originate from Rajasthan.

The trend of the market going forward appear contingent upon the performance of new export ventures within the cumin sector. Presently, the market is grappling with a dearth of buyers, resulting in a decline of Rs 50 per 20 kg in cumin prices today.

Local traders in Unja have reportedly shifted focus towards selling fennel due to a bumper crop this season. The allure of higher prices observed for cumin earlier has waned, dissuading traders from selling at current rates.

Concurrently, cumin arrivals have dwindled across all markets in Saurashtra, with stockists displaying reluctance towards procurement even at prevailing prices. Spice companies are adopting a cautious approach towards purchasing, contributing to a sluggish pace of transactions.

Businessmen indicate that around 38,000 bags of cumin reached Unja, fetching prices ranging from Rs 3800 to Rs 4000 per 20 kg for rough quality, Rs 4300 to Rs 4600 per 20 kg for the best quality, and Rs 4600 to Rs 5300 per 20 kg for Bombay Bold variety.

In Rajkot Mandi, around 1800 bags of cumin were received, commanding prices between Rs 3650 and Rs 4575 per 20 kg. Similarly, Gondal Mandi witnessed the arrival of approximately 700-800 bags, with prices ranging from Rs 4400 to Rs 4671 per 20 kg based on quality.

Jeeraunjha contract for APR delivery settled at Rs 23950/quintal showing an fall of Rs -125 over previous close of Rs 24075/quintal,The contract moved in the range of Rs 23815-24120 for the day. Open interest decreased by -111 MT to 1542 MT, while trading volume decreased by -54 to 444 MT.

Jeeraunjha contract for MAY delivery settled at Rs 23295/quintal showing an rise of Rs 170 over previous close of Rs 23125/quintal,The contract moved in the range of Rs 22940-23350 for the day. Open interest increased by 171 MT to 2292 MT, while trading volume decreased by -183 to 573 MT.

Jeeraunjha contract for JUN delivery settled at Rs 23000/quintal showing an fall of Rs -125 over previous close of Rs 23125/quintal,The contract moved in the range of Rs 23000-23000 for the day. Open interest increased by 3 MT to 69 MT, while trading volume increased by 3 to 3 MT.

Currently The spread between APR and MAY contract is 655 Rs/quintal

Currently The spread between MAY and JUN contract is 295 Rs/quintal.

Currently The spread between APR and JUN contract is 950 Rs/quintal

JeeraUnjha stock in NCDEX accredited warehouse as on 09-Apr-2024, was NA MT.

(By Commoditiescontrol Bureau: +91 9820130172)