Cumin Prices Decline in Gujarat Amid Lack of Demand

Ahmedabad, December 03 (CommoditiesControl): The cumin market in Gujarat experienced a decline in prices today, dropping by Rs 50 per 20 kg due to a surge in selling activity and a lack of demand. Local and export markets have seen lower demand, impacting trade volumes.

Market sources suggest that trading is expected to continue for only the next 15 to 20 days in December, as foreign markets will observe a fifteen-day holiday, slowing down exports and causing a temporary halt in trade. Fresh trading activity is anticipated to resume only after January 5, with expectations of improved demand during Ramzan.

In Unjha mandi, around 9,000 bags of cumin arrived today. Prices for rough cumin ranged from Rs 4100 to Rs 4200 per 20 kg, while the best quality cumin was priced between Rs 4400 and Rs 4500 per 20 kg. Bombay Bold cumin was priced higher, at Rs 4500-4700 per 20 kg.

Meanwhile, in Gondal Mandi, the price ranged from Rs 4501 to Rs 4721 per 20 kg with an arrival of 1,056 bags. In Rajkot Mandi, 1,300 bags of cumin arrived, and prices were recorded between Rs 4100 and Rs 4640 per 20 kg.

The market is likely to remain subdued until the resumption of trade in the new year.

Jeeraunjha contract for DEC delivery settled at Rs 24395/quintal showing an fall of Rs -945 over previous close of Rs 25340/quintal,The contract moved in the range of Rs 24170-25330 for the day. Open interest decreased by -513 MT to 1428 MT, while trading volume increased by 1920 to 2505 MT.

Jeeraunjha contract for JAN delivery settled at Rs 24100/quintal showing an fall of Rs -775 over previous close of Rs 24875/quintal,The contract moved in the range of Rs 23940-24825 for the day. Open interest increased by 345 MT to 1362 MT, while trading volume increased by 1596 to 2031 MT. Jeeraunjha contract for MAR delivery settled at Rs 23705/quintal showing an fall of Rs -995 over previous close of Rs 24700/quintal,The contract moved in the range of Rs 23650-24350 for the day. Open interest increased by 42 MT to 105 MT, while trading volume increased by 72 to 84 MT. Currently The spread between DEC and JAN contract is 295 Rs/quintal. Currently The spread between JAN and MAR contract is 395 Rs/quintal. Currently The spread between DEC and MAR contract is 690 Rs/quintal. JeeraUnjha stock in NCDEX accredited warehouse as on 03-Dec-2024, was 495 MT.

(By Commoditiescontrol Bureau; +91 98201 3018)