Cumin Prices Stable Amid Steady Supply and Limited Demand in Gujarat

Ahmedabad, September 10 (Commodities Control): The cumin seed market in Gujarat has maintained stability over the past two days. Traditionally, September witnesses a significant drop in cumin arrivals, but this year, a large stock held by farmers has led to an increased supply. If selling continues at this rate, cumin prices could potentially decline.

Traders report that farmers still hold about 30% of the cumin stock, exerting pressure on arrivals. There is currently no indication of a major uptrend in cumin prices. The futures market also showed softness today, which could influence the spot market accordingly.

In today's trading, the Unjha market saw an arrival of approximately 8,000 bags. The price for rough cumin ranged from ₹4,250 to ₹4,400 per 20 kg, while the best quality cumin was priced between ₹4,700 and ₹5,000 per 20 kg. Bombay Bold cumin was quoted at ₹5,000 to ₹5,200 per 20 kg.

In Rajkot, around 1,500 bags were reported, with prices varying between ₹4,150 and ₹4,713 per 20 kg. Meanwhile, the Gondal market saw an arrival of 1,310 bags, with prices ranging from ₹4,531 to ₹4,881 per 20 kg.

Jeeraunjha contract for SEP delivery settled at Rs 25490/quintal showing an rise of Rs 390 over previous close of Rs 25100/quintal,The contract moved in the range of Rs 24825-25550 for the day. Open interest decreased by -225 MT to 1239 MT, while trading volume increased by 201 to 627 MT.

Jeeraunjha contract for OCT delivery settled at Rs 25385/quintal showing an rise of Rs 360 over previous close of Rs 25025/quintal,The contract moved in the range of Rs 24820-25495 for the day. Open interest increased by 69 MT to 1884 MT, while trading volume increased by 297 to 864 MT.

Jeeraunjha contract for NOV delivery settled at Rs 25200/quintal showing an rise of Rs 345 over previous close of Rs 24855/quintal,The contract moved in the range of Rs 24685-25200 for the day. Open interest increased by 24 MT to 90 MT, while trading volume increased by 48 to 69 MT.

Currently The spread between SEP and OCT contract is 105 Rs/quintal.

Currently The spread between OCT and NOV contract is 185 Rs/quintal.

Currently The spread between SEP and NOV contract is 290 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 10-Sep-2024, was 729 MT

(By Commoditiescontrol Bureau: +91 9820130172)