Cumin Prices Under Pressure in Gujarat Amid Bumper Crop Expectations in China

Ahmedabad, June 14 (CommoditiesControl): After a brief improvement, cumin prices in Gujarat plummeted again today. Traders attribute the price pressure to expectations of a bumper crop in China. Additionally, increased arrivals in the spot market contributed to the decline. Prices softened by Rs 100-150 per 20 kg in the state's spot markets. Market support is anticipated only if there is export demand in the coming days; otherwise, no other reasons for a price rise are currently evident.

In Unjha Mandi, around 20,000 bags of cumin arrived today. Rough cumin prices were Rs 4750-5000 per 20 kg, while the best quality cumin was priced at Rs 5300-5400 per 20 kg. Bombay Bold cumin prices ranged from Rs 5400-5500 per 20 kg. Across Gujarat, total arrivals were approximately 28,000 bags.

In the Rajkot market, around 800 bags arrived, with prices ranging from Rs 4300-5410 per 20 kg. In the Gondal market, prices ranged from Rs 5181-5661 per 20 kg with an arrival of 836 bags.

Jeeraunjha contract for JUN delivery settled at Rs 28800/quintal showing an was simillar of Rs 0 over previous close of Rs 28800/quintal,The contract moved in the range of Rs 28740-29000 for the day. Open interest decreased by -291 MT to 330 MT, while trading volume decreased by -795 to 234 MT.

Jeeraunjha contract for JUL delivery settled at Rs 27915/quintal showing an rise of Rs 245 over previous close of Rs 27670/quintal,The contract moved in the range of Rs 26835-28090 for the day. Open interest was simillar by 0 MT to 2973 MT, while trading volume decreased by -582 to 1509 MT.

Jeeraunjha contract for AUG delivery settled at Rs 27295/quintal showing an rise of Rs 240 over previous close of Rs 27055/quintal,The contract moved in the range of Rs 27295-27310 for the day. Open interest increased by 9 MT to 132 MT, while trading volume increased by 24 to 33 MT.

Currently The spread between JUN and JUL contract is 885 Rs/quintal.

Currently The spread between JUL and AUG contract is 620 Rs/quintal.

Currently The spread between JUN and AUG contract is 1505 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 14-Jun-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)