Ahmedabad, July 5 (CommoditiesControl): The cumin market in Gujarat saw stable prices today despite the strong market conditions. The stability is primarily due to the high moisture content in cumin caused by the monsoon rains. According to a leading trader from Unjha, the moisture content in cumin currently ranges between 9.5% to 14%, whereas only 8% to 9% moisture content is suitable for export. This discrepancy has resulted in lower purchases from exporters, affecting both export and local trade.
The current market situation suggests that if export trade picks up, cumin futures could reach the level of Rs 30,000 per quintal. However, without export demand, prices are expected to remain within this range.
Today, Unjha Mandi saw an arrival of about 10,000 bags. The price of rough cumin was Rs 4500-5000 per 20 kg, best quality cumin was priced at Rs 5200-5250 per 20 kg, and Bombay Bold cumin was priced at Rs 5250-5350 per 20 kg. In total, around 14,000 bags arrived from across Gujarat.
In Gondal Mandi, 596 bags of cumin were traded at prices ranging from Rs 5261-5451. Meanwhile, Rajkot Mandi saw an arrival of around 1,500 bags, with prices ranging from Rs 4500-5465.
Jeeraunjha contract for JUL delivery settled at Rs 29200/quintal showing an rise of Rs 35 over previous close of Rs 29165/quintal,The contract moved in the range of Rs 28925-29445 for the day. Open interest decreased by -219 MT to 2076 MT, while trading volume decreased by -303 to 672 MT.
Jeeraunjha contract for AUG delivery settled at Rs 28445/quintal showing an fall of Rs -175 over previous close of Rs 28620/quintal,The contract moved in the range of Rs 28300-28670 for the day. Open interest increased by 291 MT to 2103 MT, while trading volume decreased by -66 to 675 MT.
Jeeraunjha contract for SEP delivery settled at Rs 28500/quintal showing an rise of Rs 135 over previous close of Rs 28365/quintal,The contract moved in the range of Rs 28500-28900 for the day. Open interest increased by 18 MT to 24 MT, while trading volume increased by 21 to 24 MT.
Currently The spread between JUL and AUG contract is 755 Rs/quintal
Currently The spread between AUG and SEP contract is -55 Rs/quintal
Currently The spread between JUL and SEP contract is 700 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 05-Jul-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
0 Comments 
Post Comment 
