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Cumin Market Continues Slide as Futures Selling Intensifies; Spot Prices Soften

13 Apr 2024 8:16 pm
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Ahmedabad, April 13 (CommoditiesControl): The cumin market continues its downward trend, primarily driven by heavy selling in futures contracts, which have now reached Rs 23,000 per quintal as the expiry of April futures approaches. Traders are increasingly opting to sell futures contracts due to their relatively lower prices for future dates, exerting downward pressure on spot prices. Today, spot prices softened by Rs 40-50 as a result.

While there is currently limited activity in the cumin market, pressure on spot prices is mounting due to developments in the futures market. Additionally, the arrival of cumin in Gujarat is on the decline. In Rajasthan, out of the 35,000-40,000 sacks arriving, around 20,000 sacks are being received in Unja, although even this figure is beginning to decrease.

In Unja Mandi today, around 30,000 sacks of cumin received, with 18,000 bags sourced from Rajasthan and 12,000 bags locally. Around 16,000-17,000 sacks were traded in nearby areas. Rough cumin was priced at Rs 3,700-3,950 per 20 kg, while the best quality commanded Rs 4,200-4,400 per 20 kg. Bombay Bold cumin quoted at Rs 4,550-5,300 per 20 kg.

In Gondal Mandi, prices ranged from Rs 4,281 to Rs 4,851 per 20 kg against the arrival of 1,200-1,300 bags. Meanwhile, in Rajkot Mandi, with around 1,800 bags arriving, prices ranged from Rs 3,500 to Rs 4,405 per 20 kg.

(CommoditiesControl Bureau; +91-9820130172)

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