Ahmedabad, June 21 (Commodities Control): Cumin prices in Gujarat experienced downward pressure on Friday due to a substantial increase in arrivals. For the past three days, Unjha Mandi, the main center for cumin arrivals, has seen more than 20,000 bags of cumin daily.
However, trading has not kept pace with arrivals, leading to a decrease in prices today. According to traders, there is a lack of local demand for cumin, compounded by the arrival of a new crop from China in the international market, which has dampened exports of Indian cumin. Consequently, a significant price rise for cumin seems unlikely in the near future.
In Unjha Mandi, around 21,000 bags of cumin arrived today. The price for rough cumin ranged from Rs 4800 to Rs 5000 per 20 kg, while the best quality cumin was priced between Rs 5400 and Rs 5450 per 20 kg. Bombay Bold cumin was priced at Rs 5450-5500 per 20 kg. Overall, Gujarat saw an arrival of approximately 37,000 bags of cumin. The increase in arrivals by about 10,000 bags compared to the usual 25,000 to 27,000 bags per day has put additional pressure on prices.
In Gondal Mandi, 1,328 bags of cumin arrived and traded at prices ranging from Rs 5351 to Rs 5591 per 20 kg. Rajkot Mandi received around 2,000 bags of cumin, with prices ranging from Rs 4650 to Rs 5568 per 20 kg.
Jeeraunjha contract for JUL delivery settled at Rs 28950/quintal showing an rise of Rs 185 over previous close of Rs 28765/quintal,The contract moved in the range of Rs 28420-28950 for the day. Open interest decreased by -156 MT to 2982 MT, while trading volume decreased by -915 to 1398 MT.
Jeeraunjha contract for AUG delivery settled at Rs 28495/quintal showing an rise of Rs 60 over previous close of Rs 28435/quintal,The contract moved in the range of Rs 27920-28495 for the day. Open interest increased by 261 MT to 807 MT, while trading volume decreased by -201 to 369 MT
Jeeraunjha contract for SEP delivery settled at Rs 28435/quintal showing an rise of Rs 815 over previous close of Rs 27620/quintal,The contract moved in the range of Rs 28435-28435 for the day. Open interest was simillar by 0 MT to 0 MT, while trading volume was simillar by 0 to 0 MT.
Currently The spread between JUL and AUG contract is 455 Rs/quintal
Currently The spread between AUG and SEP contract is 60 Rs/quintal.
Currently The spread between JUL and SEP contract is 515 Rs/quintal
JeeraUnjha stock in NCDEX accredited warehouse as on 21-Jun-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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