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Cumin Prices Continue to Rise for the Second Consecutive Day Amid Growing Demand

29 Feb 2024 5:40 pm
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Ahmedabad, February 29 (Commodities Control): The cumin market has witnessed a continued upswing for the past two days, with prices showing a slight improvement due to increased demand. Today, the price surged by Rs 100 per 20 kg, reflecting a positive trend in response to demand from various quarters.

Traders point out that an inquiry from China's bureau, coupled with local demand, has contributed to the recent price hike. The market trend in the upcoming days will depend on the selling activities. Notably, there has been a positive movement in the futures market as well.

In the Unja market, around 25,000-26,000 bags of new cumin arrived. The price of rough cumin ranged between Rs 4300-4500 per 20 kg, while the best quality commanded a price of Rs 5000-5400 per 20 kg. Additionally, Bombay Bold, a popular variety, was priced between Rs 5300-5900 per 20 kg, with trading volumes reaching around 18,000-20,000 sacks.

Rajkot mandi reported an arrival of 6800 quintal bags, with prices ranging from Rs 4000-4950. In Gondal Mandi, around 5000 bags arrived, and prices varied from Rs 3000-5276 per 20 kg, depending on the quality.



Jeeraunjha contract for MAR delivery settled at Rs 24750/quintal showing an rise of Rs 385 over previous close of Rs 24365/quintal,The contract moved in the range of Rs 24400-24880 for the day. Open interest decreased by -12 MT to 1620 MT, while trading volume decreased by -207 to 450 MT.

Jeeraunjha contract for APR delivery settled at Rs 24000/quintal showing an rise of Rs 245 over previous close of Rs 23755/quintal,The contract moved in the range of Rs 23760-24075 for the day. Open interest increased by 24 MT to 1911 MT, while trading volume decreased by -315 to 315 MT

Jeeraunjha contract for MAY delivery settled at Rs 23990/quintal showing an rise of Rs 315 over previous close of Rs 23675/quintal,The contract moved in the range of Rs 23975-24000 for the day. Open interest increased by 3 MT to 225 MT, while trading volume decreased by -27 to 15 MT.

Currently The spread between MAR and APR contract is 750 Rs/quintal.

Currently The spread between APR and MAY contract is 10 Rs/quintal.

Currently The spread between MAR and MAY contract is 760 Rs/quintal.


JeeraUnjha stock in NCDEX accredited warehouse as on 29-Feb-2024, was NA MT



(By Commoditiescontrol Bureau: +91 9820130172)


       
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