Ahmedabad, September 11 (CommoditiesControl): The cumin market in Gujarat has seen a notable uptick in prices, driven by increased local demand. As of today, the price of cumin has risen by Rs 50 per 20 kg. Traders attribute this price increase to robust demand within the state.
Currently, the cumin market is experiencing a substantial arrival of produce. Traders observe that as market conditions improve, the volume of arrivals also increases. The forecast for the coming days suggests that if rainfall remains minimal, arrivals could further rise. This is bolstered by the fact that both farmers and stockists are holding significant stocks of cumin.
In the Unjha mandi, approximately 8,000 sacks of cumin arrived today. The price for rough cumin ranged between Rs 4,350 and Rs 4,460 per 20 kg, while the best quality cumin fetched between Rs 4,650 and Rs 4,800 per 20 kg. Bombay Bold cumin was priced between Rs 4,850 and Rs 5,000 per 20 kg.
In Rajkot Mandi, around 2,300 bags of cumin were reported, with prices varying from Rs 4,300 to Rs 4,795 per 20 kg. Meanwhile, Gondal Mandi recorded an arrival of 1,310 bags, with prices ranging between Rs 4,651 and Rs 4,871 per 20 kg.
On the National Commodity and Derivatives Exchange (NCDEX), the September cumin contract was trading at Rs 25,450, reflecting an increase of Rs 95. The October contract saw a rise of Rs 210, trading at Rs 25,570, while the November contract was priced at Rs 25,160, up by Rs 25.
Jeeraunjha contract for SEP delivery settled at Rs 25500/quintal showing an rise of Rs 145 over previous close of Rs 25355/quintal,The contract moved in the range of Rs 25210-25670 for the day. Open interest decreased by -114 MT to 1125 MT, while trading volume decreased by -216 to 411 MT.
Jeeraunjha contract for OCT delivery settled at Rs 25500/quintal showing an rise of Rs 140 over previous close of Rs 25360/quintal,The contract moved in the range of Rs 25300-25740 for the day. Open interest increased by 21 MT to 1905 MT, while trading volume decreased by -285 to 579 MT.
Jeeraunjha contract for NOV delivery settled at Rs 25205/quintal showing an rise of Rs 70 over previous close of Rs 25135/quintal,The contract moved in the range of Rs 25160-26000 for the day. Open interest was simillar by 0 MT to 90 MT, while trading volume decreased by -57 to 12 MT.
Currently The spread between SEP and OCT contract is 0 Rs/quintal
Currently The spread between OCT and NOV contract is 295 Rs/quintal.
Currently The spread between SEP and NOV contract is 295 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 11-Sep-2024, was 729 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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