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Jeera Futures Bounce Back on Robust Fundamentals; Spot Jeera Mostly Firm

30 Oct 2020 6:11 pm
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Mumbai (Commodities Control) - Spot jeera prices were unchanged for Unjha and the spice traded mixed at Rajkot mandi. In the previous session though, spot jeera gave up Rs 10 per 20 Kgs in Unjha, while it rose Rs 15 in Rajkot. Meanwhile futures prices settled in green due to lower level buying.


The futures market ended stronger than the previous session, as November futures settled Rs 145 higher at Rs 14,500 per Quintal and December futures settled Rs 130 higher at Rs 14,640.


Jeera futures on the National Commodity and Derivatives Exchange ended lower, on Thursday, as investors booked profits after the recent rise in prices and due to higher arrivals ahead of sowing. The most active November contract hit a seven-month high of 14,695 rupees on Wednesday.

Having said so, traders note that outlook for the spice is positive on strong export demand and likely fall in acreage in 2020-21 (Oct-Sep) rabi season as farmers may opt for other crops like chana and mustard due to better returns.


Unjha mandi reported arrivals of 15,000 bags 20,000 bags in the last session. Rough variety of Jeera was priced at Rs. 2255-2305 per 20 kg. NCDEX Jeera was priced at Rs. 2305-2405 per 20 kg in the same mandi. Bombay Bold was quoted at Rs. 2605-2705 per 20 kg.


Meanwhile a mixed price trend was witnessed in Rajkot on Friday. Europe quality traded Rs 25 higher at Rs. 2450-2550, Singapore quality dropped Rs 25 at Rs. 2400-2450, discolour rose Rs 25 to Rs. 2300-2400, while super quality gave up Rs 15 at Rs. 2550-2600, Europe-Mundra traded flat at Rs. 2825-2875 and Singapore-Mundra at Rs. 2725-2750 per 20 kg. The mandi reported steady arrivals of 1,000 bags vs 700 bags in the last session.


Commodity

Market

Variety

Min

Max

Min

Max

Change(Max Today-Prev Max)

Arrival

Jeera

Unjha

Rough (20 Kg)

2265

2315

2265

2315

0

15000

Jeera

Unjha

Ncdex (20 Kg)

2315

2415

2315

2415

0

Jeera

Unjha

Best Quality (20 Kg)

2515

2565

2515

2565

0

Jeera

Unjha

Bomabay BOLD (20 Kg)

2615

2715

2615

2715

0

Jeera

Rajkot

Europe Quality (20 Kg)

2450

2550

2475

2525

25

1000

Jeera

Rajkot

Singapore Quality (20 Kg)

2400

2450

2375

2475

-25

Jeera

Rajkot

Discolor (20 Kg)

2300

2400

2275

2375

25

Jeera

Rajkot

Super Quality (20 Kg)

2550

2600

2565

2615

-15

Jeera

Rajkot

Europe - Mundra

2825

2875

2825

2875

0

Jeera

Rajkot

Singapore Mundra

2725

2750

2675

2725

25



       
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