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Spot Jeera Prices Unchanged; Futures Hit Fresh 4-Year Low

26 Feb 2020 8:13 pm
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MUMBAI (Commoditiescontrol) - Spot jeera prices ruled steady at the major Unjha market in Gujarat on Wednesday amid a rise in new crop arrivals.

Today about 7,800 bags of jeera arrived at the Unjha market. The price of rough jeera was at Rs 2430-2530 per 20 kg, while NCDEX variety ruled at Rs 2600-2650 per 20 kg.

According to traders, jeera production in the country is expected to increase by about 25 percent this year. At the same time, the arrival of new crops in the mandis is increasing rapidly. In such a situation, the pressure on the futures price has increased.

At the same time, prices have been supported by the purchase of exporters at lower levels. But due to weak sentiment, the buyer is not ready to give higher prices. So the spot rates remained at previous day's levels.

Jeera for delivery in March at the National Commodity and Derivatives Exchange (NCDEX) ended lower by Rs 50 or 0.37 percent at Rs 13,310 per quintal, the new 4-year low, after moving in the range of Rs 13,435 and Rs 13,220 per quintal.

Commodity Market Variety Min Max Arrival
Jeera Unjha Rough (20 Kg) 2430 2530 7800
Jeera Unjha Ncdex (20 Kg) 2600 2650
Jeera Unjha Best Quality (20 Kg) 2730 2830
Jeera Unjha Bomabay BOLD (20 Kg) 2900 3000

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