Jeera trades unchanged at Unjha, prices gain at Rajkot on need-based buying

Mumbai, Feb 8 (Commoditiescontrol): Jeera prices traded almost unchanged at Unjha on Wednesday amid need based buying activity at lower rates. While, commodity remined firm at Rajkot market on select local purchase.

Prices are likely to remain under pressure as arrivals of new crop will gather pace within 8-10 days at surrounding areas due to clear hot weather and also marriage season also may over.

At Unjha, new Jeera traded at Rs 5,400-6,300/20Kg, as per quality with increased arrivals of 700 bags (Each bag of 60 Kg) with moisture contain quality.

Today, new Jeera traded at Rs 5,900-6,030/20Kg amid less arrivals of 50 bags (Each bag of 60 Kg) at Rajkot.

Steady old jeera arrivals of 2500 bags from surrounding areas at Unjha were witnessed. As per the market report, about 10000 bags were on sale in the local market.

Similarly, commodity traded higher by Rs 50/20Kg, as per quality at the Rajkot market on select need-based buying at lower rates amid steady arrivals of 300 bags.

Jeera stock at the NCDEX accredited warehouses as on February 7 was reported at 512 MT at Unjha center, similar in the previous day, as per exchange data.

Jeera contract for March delivery settled at Rs 32670/quintal showing an fall of Rs -90 over previous close of Rs 32760/quintal,The contract moved in the range of Rs 32255-33130 for the day. Open interest increased by 141 MT to 4365 MT, while trading volume decreased by -243 to 1545 MT.

Jeera contract for April delivery settled at Rs 32810/quintal showing an fall of Rs -65 over previous close of Rs 32875/quintal,The contract moved in the range of Rs 32205-33295 for the day. Open interest increased by 27 MT to 1983 MT, while trading volume decreased by -99 to 633 MT.

Jeera contract for May delivery settled at Rs 32990/quintal showing an fall of Rs -110 over previous close of Rs 33100/quintal,The contract moved in the range of Rs 32990-32990 for the day. Open interest was simillar by 0 MT to 9 MT, while trading volume was simillar by 0 to 0 MT.

Currently The spread between March and April contract is 140 Rs/quintal.