Cumin Prices Dip in Gujarat's Spot Market Amid Futures Market Decline

Ahmedabad, December 4 (CommoditiesControl): A significant drop in cumin prices was recorded in the futures market yesterday, which has impacted the spot market today. Cumin prices in the spot market have fallen by Rs 70-75 per 20 kg.

Traders attribute this decline to the speculative downturn in the futures market, which is also affecting the spot market. Additionally, discussions in the market suggest that the export business is currently at a standstill, while local demand remains weak, contributing to the price fall. The market outlook will depend on cumin arrivals in the coming days.

Today, around 9,000 bags of cumin arrived at the Unjha Mandi. The prices were as follows:
- Rough cumin: Rs 4,025-4,125 per 20 kg
- Best quality cumin: Rs 4,375-4,425 per 20 kg
- Bombay Bold: Rs 4,500-4,700 per 20 kg

In Gondal Mandi, prices ranged from Rs 4,451 to Rs 4,731 per 20 kg, with an arrival of 1,415 bags. In Rajkot Mandi, 1,200 bags arrived with prices between Rs 4,175 and Rs 4,620 per 20 kg.

Jeeraunjha contract for DEC delivery settled at Rs 24390/quintal showing an fall of Rs -55 over previous close of Rs 24445/quintal,The contract moved in the range of Rs 24200-24540 for the day. Open interest decreased by -189 MT to 1239 MT, while trading volume decreased by -1971 to 534 MT.

Jeeraunjha contract for JAN delivery settled at Rs 24045/quintal showing an fall of Rs -55 over previous close of Rs 24100/quintal,The contract moved in the range of Rs 23890-24340 for the day. Open interest increased by 54 MT to 1416 MT, while trading volume decreased by -1329 to 702 MT. Jeeraunjha contract for MAR delivery settled at Rs 23500/quintal showing an fall of Rs -245 over previous close of Rs 23745/quintal,The contract moved in the range of Rs 23200-23730 for the day. Open interest increased by 21 MT to 126 MT, while trading volume decreased by -54 to 30 MT. Currently The spread between DEC and JAN contract is 345 Rs/quintal. Currently The spread between JAN and MAR contract is 545 Rs/quintal. Currently The spread between DEC and MAR contract is 890 Rs/quintal. JeeraUnjha stock in NCDEX accredited warehouse as on 04-Dec-2024, was 495 MT. (By Commoditiescontrol Bureau; +91 98201 3018)