Cumin Prices Decline in Gujarat Amid Rising Arrivals and Limited Demand

Ahmedabad, September 13 (CommoditiesControl): The cumin market in Gujarat experienced a notable drop in prices today, attributed to the surge in arrivals combined with subdued demand. Prices fell by Rs 50-80 per 20 kg as the market faced pressure from the arrival of cumin.

Today, the total arrival of cumin across Gujarat was substantial, ranging between 19,000 and 20,000 bags. This increase in supply has put downward pressure on prices, which have seen a decline despite the usual lower arrivals for this time of year. The current high stock levels with farmers have prompted increased selling activity as prices rise, further contributing to the downward trend.

In the Unjha mandi, where around 14,000 bags of cumin arrived, prices were recorded at Rs 4300-4400 per 20 kg for rough cumin, Rs 4600-4700 per 20 kg for best quality, and Rs 4700-4800 per 20 kg for Bombay Bold.

Rajkot Mandi saw the arrival of approximately 2,400 bags, with prices ranging from Rs 4250 to Rs 4718 per 20 kg. In Gondal Mandi, where 1,166 bags were received, the prices varied from Rs 4491 to Rs 4861 per 20 kg.

Jeeraunjha contract for SEP delivery settled at Rs 25495/quintal showing an fall of Rs -115 over previous close of Rs 25610/quintal,The contract moved in the range of Rs 25205-25495 for the day. Open interest decreased by -213 MT to 789 MT, while trading volume increased by 345 to 678 M

Jeeraunjha contract for OCT delivery settled at Rs 25525/quintal showing an fall of Rs -170 over previous close of Rs 25695/quintal,The contract moved in the range of Rs 25350-26205 for the day. Open interest decreased by -18 MT to 1932 MT, while trading volume increased by 150 to 906 MT.

Jeeraunjha contract for NOV delivery settled at Rs 25170/quintal showing an fall of Rs -510 over previous close of Rs 25680/quintal,The contract moved in the range of Rs 25155-25260 for the day. Open interest increased by 42 MT to 189 MT, while trading volume decreased by -51 to 69 MT.

Currently The spread between SEP and OCT contract is -30 Rs/quintal.

Currently The spread between OCT and NOV contract is 355 Rs/quintal. |

Currently The spread between SEP and NOV contract is 325 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 13-Sep-2024, was 729

(By Commoditiescontrol Bureau: +91 9820130172)