Ahmedabad, July 9 (CommoditiesControl): Prices in Gujarat's cumin market are continuously falling due to a lack of buyers. Despite occasional surges, the market is not seeing sustainable growth. Farmers are unwilling to sell at lower prices, leading to reduced arrivals in the market. Additionally, importing countries remain calm due to the anticipated near-doubling of crops in China, Turkey, Syria, and Afghanistan. This has resulted in a slow decline in export trade, affecting market prices. Today, cumin prices in the state softened by 50-70 rupees per 20 kg.
According to traders, around 8000 bags of cumin arrived at Unja Mandi today. The price of rough cumin was Rs 4500-5000 per 20 kg, the best quality was priced at Rs 5150-5200 per 20 kg, and Bombay Bold was at Rs 5200-5250 per 20 kg. Statewide, approximately 15000 bags of cumin arrived.
In Gondal Mandi, 354 bags of cumin were traded at Rs 5141-5301 per 20 kg. In Rajkot Mandi, around 600 bags arrived, with prices ranging from Rs 4250 to Rs 5218 per 20 kg.
Jeeraunjha contract for JUL delivery settled at Rs 27845/quintal showing an fall of Rs -520 over previous close of Rs 28365/quintal,The contract moved in the range of Rs 27700-28400 for the day. Open interest decreased by -312 MT to 1479 MT, while trading volume increased by 360 to 1272 MT.
Jeeraunjha contract for AUG delivery settled at Rs 27590/quintal showing an fall of Rs -295 over previous close of Rs 27885/quintal,The contract moved in the range of Rs 27500-27895 for the day. Open interest increased by 36 MT to 2364 MT, while trading volume increased by 525 to 1557 MT.
Jeeraunjha contract for SEP delivery settled at Rs 27220/quintal showing an fall of Rs -480 over previous close of Rs 27700/quintal,The contract moved in the range of Rs 27220-28005 for the day. Open interest increased by 150 MT to 213 MT, while trading volume increased by 114 to 180 MT.
Currently The spread between JUL and AUG contract is 255 Rs/quintal.
Currently The spread between AUG and SEP contract is 370 Rs/quintal.
Currently The spread between JUL and SEP contract is 625 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 09-Jul-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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