Cumin Prices Decline Due to Lack of Demand

Ahmedabad, 5 August (CommoditiesControl): Due to continuous rain in North Gujarat today, there was a reduced arrival of cumin in Unjha Mandi. In Saurashtra, almost all the mandis remained closed for the first Monday of Sawan, with only two to three mandis, including Rajkot, remaining operational. As a result, the arrival of cumin was lower today, leading to a price drop of 40-50 rupees per 20 kg due to diminished demand.

According to traders, Unjha Mandi received around 4000 bags of cumin today. The price of rough cumin ranged from Rs 4400-4600 per 20 kg, while the best quality cumin was priced at Rs 4800-5000 per 20 kg. The price of Bombay Bold cumin was Rs 5000-5100 per 20 kg. The total arrival from the entire Gujarat was approximately 6500 bags.

The Gondal market was closed due to the first Monday of Sawan. In the Rajkot market, around 700 bags arrived, with prices ranging from Rs 4200-4845 per 20 kg.

Jeeraunjha contract for AUG delivery settled at Rs 26330/quintal showing an fall of Rs -325 over previous close of Rs 26655/quintal,The contract moved in the range of Rs 26250-26580 for the day. Open interest decreased by -69 MT to 2328 MT, while trading volume increased by 24 to 510 MT.

Jeeraunjha contract for SEP delivery settled at Rs 25860/quintal showing an fall of Rs -395 over previous close of Rs 26255/quintal,The contract moved in the range of Rs 25610-26145 for the day. Open interest increased by 96 MT to 1560 MT, while trading volume decreased by -33 to 282 MT.

Jeeraunjha contract for OCT delivery settled at Rs 27125/quintal showing an fall of Rs -5 over previous close of Rs 27130/quintal,The contract moved in the range of Rs 27125-27125 for the day. Open interest was simillar by 0 MT to 3 MT, while trading volume was simillar by 0 to 0 MT.

Currently The spread between AUG and SEP contract is 470 Rs/quintal.

Currently The spread between SEP and OCT contract is -1265 Rs/quintal.

Currently The spread between AUG and OCT contract is -795 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 05-Aug-2024, was 603 MT

(By Commoditiescontrol Bureau: +91 9820130172)