Cumin Prices Drop in Gujarat Amid Low Demand

Ahmedabad, September 16 (CommoditiesControl): Cumin prices in Gujarat witnessed a decline today as demand remained subdued, even with high arrivals in the market. Prices dropped by ₹50 per 20 kg across major mandis due to the lack of buying interest.

In Unjha Mandi, the key trading hub for cumin, around 10,000 bags were received today. However, limited demand has resulted in price pressure. Traders reported that the rough cumin variety was priced between ₹4,300-4,400 per 20 kg, while the best quality cumin ranged from ₹4,650-4,750 per 20 kg. The premium Bombay Bold variety was priced at ₹4,800-5,200 per 20 kg. Overall, a total of 15,000 bags arrived across Gujarat and Rajasthan.

Rajkot Mandi saw the arrival of 1,600 bags, with prices ranging between ₹4,250 and ₹4,700 per 20 kg. However, many mandis, including Gondal, were closed today for Eid and the Ekadashi festival, further impacting market activity.

Meanwhile, on the NCDEX at 13:30 IST, cumin futures showed gains despite the weak spot market. The September contract rose by ₹210 to ₹25,540 per quintal, the October contract gained ₹110 to trade at ₹25,600, and the November contract increased by ₹190 to ₹25,400 per quintal.

Jeeraunjha contract for SEP delivery settled at Rs 26290/quintal showing an rise of Rs 960 over previous close of Rs 25330/quintal,The contract moved in the range of Rs 25105-26340 for the day. Open interest decreased by -483 MT to 306 MT, while trading volume increased by 903 to 1581 MT.

Jeeraunjha contract for OCT delivery settled at Rs 25770/quintal showing an rise of Rs 280 over previous close of Rs 25490/quintal,The contract moved in the range of Rs 25280-25800 for the day. Open interest increased by 426 MT to 2358 MT, while trading volume increased by 1347 to 2253 MT.

Jeeraunjha contract for NOV delivery settled at Rs 25635/quintal showing an rise of Rs 425 over previous close of Rs 25210/quintal,The contract moved in the range of Rs 25400-25635 for the day. Open interest increased by 30 MT to 219 MT, while trading volume increased by 9 to 78 MT.

Currently The spread between SEP and OCT contract is 520 Rs/quintal

Currently The spread between OCT and NOV contract is 135 Rs/quintal.

Currently The spread between SEP and NOV contract is 655 Rs/quintal

JeeraUnjha stock in NCDEX accredited warehouse as on 16-Sep-2024, was 729 MT

(By Commoditiescontrol Bureau: +91 9820130172)