Cumin Seeds Prices Dip in Gujarat Due to Lack of Demand

Ahmedabad, December 02 (CommoditiesControl): The prices of cumin seeds in Gujarat have softened, driven by weak demand in both local and export markets. On Sunday, the market saw a decline of Rs 50 per 20 kg, primarily due to a lack of buying interest. Traders report that the demand for cumin seeds remains subdued as arrivals continue to hit the markets.

In Unjha Mandi, around 13,000 bags of cumin seeds arrived today, further pressuring the market. As a result, prices for rough cumin ranged between Rs 4150-4250 per 20 kg, while the best quality cumin was priced between Rs 4450-4550 per 20 kg. Bombay Bold cumin seeds fetched prices between Rs 4550-4750 per 20 kg.

At other key mandis in Gujarat, prices showed mixed trends in response to incoming supplies. In Gondal Mandi, which saw the arrival of 1,896 bags, prices ranged from Rs 4581 to Rs 4801 per 20 kg. Meanwhile, in Rajkot Mandi, with an arrival of 2,500 bags, prices were recorded between Rs 4150 and Rs 4615 per 20 kg.

The lack of demand, particularly from exporters, has caused prices to dip, and market participants are now looking to the coming days for any signs of a recovery. The market's future direction will depend on the arrival trends in the upcoming weeks.

On the National Commodity and Derivatives Exchange (NCDEX), the prices for cumin futures also saw declines. As of 13:40, the December contract was trading at Rs 25,150, down by Rs 105. The January contract was priced at Rs 24,670, marking a drop of Rs 140, while the March contract was at Rs 24,600 per quintal, down by Rs 135.

Jeeraunjha contract for DEC delivery settled at Rs 25370/quintal showing an rise of Rs 115 over previous close of Rs 25255/quintal,The contract moved in the range of Rs 24855-25480 for the day. Open interest decreased by -177 MT to 1941 MT, while trading volume decreased by -78 to 585 MT.

Jeeraunjha contract for JAN delivery settled at Rs 24900/quintal showing an rise of Rs 90 over previous close of Rs 24810/quintal,The contract moved in the range of Rs 24670-25075 for the day. Open interest increased by 174 MT to 1017 MT, while trading volume decreased by -48 to 435 MT. Jeeraunjha contract for MAR delivery settled at Rs 24700/quintal showing an fall of Rs -35 over previous close of Rs 24735/quintal,The contract moved in the range of Rs 24600-24900 for the day. Open interest increased by 3 MT to 63 MT, while trading volume increased by 3 to 12 MT. Currently The spread between DEC and JAN contract is 470 Rs/quintal. Currently The spread between JAN and MAR contract is 200 Rs/quintal. Currently The spread between DEC and MAR contract is 670 Rs/quintal. JeeraUnjha stock in NCDEX accredited warehouse as on 02-Dec-2024, was 477 MT.
(By Commoditiescontrol Bureau; +91 98201 3018)