Ahmedabad, December 11 (CommoditiesControl): The cumin market in Gujarat has remained stable for the past two days, with demand staying sluggish. The market saw a brief improvement of Rs 25-30 per 20 kg in the morning, but the momentum slowed by the afternoon.
Traders note that the market has yet to gain significant strength, with trade not occurring at the expected pace. The upcoming Ramzan demand remains a key factor that could influence market conditions. However, aside from this, there are no major drivers for a price rise at this moment. Traders are closely monitoring cumin arrivals in the coming days to assess further trends.
Today, around 7,000 bags of cumin arrived in Unjha market, with rough cumin priced between Rs 4,050 and Rs 4,200 per 20 kg. The best quality cumin was quoted at Rs 4,300-4,500 per 20 kg, while Bombay Bold cumin fetched Rs 4,550-4,800 per 20 kg. The total arrival in Gujarat stood at around 16,000 bags.
In Gondal Mandi, cumin prices ranged from Rs 4,550 to Rs 4,710 per 20 kg, with an arrival of 1,429 bags. Rajkot Mandi witnessed an arrival of around 1,800 bags, with prices ranging from Rs 4,150 to Rs 4,610 per 20 kg.
Despite the stable prices, the sluggish demand continues to influence the cumin market, and traders are awaiting clarity on the impact of the upcoming Ramzan season.
Jeeraunjha contract for DEC delivery settled at Rs 24250/quintal showing an fall of Rs -70 over previous close of Rs 24320/quintal,The contract moved in the range of Rs 24205-24400 for the day. Open interest decreased by -36 MT to 675 MT, while trading volume decreased by -396 to 75 MT
Jeeraunjha contract for JAN delivery settled at Rs 24020/quintal showing an fall of Rs -210 over previous close of Rs 24230/quintal,The contract moved in the range of Rs 23900-24275 for the day. Open interest increased by 45 MT to 2421 MT, while trading volume decreased by -642 to 228 MT.
Jeeraunjha contract for MAR delivery settled at Rs 23560/quintal showing an fall of Rs -305 over previous close of Rs 23865/quintal,The contract moved in the range of Rs 23545-23635 for the day. Open interest increased by 6 MT to 192 MT, while trading volume decreased by -3 to 15 MT
Currently The spread between DEC and JAN contract is 230 Rs/quintal
Currently The spread between JAN and MAR contract is 460 Rs/quintal.
Currently The spread between DEC and MAR contract is 690 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 11-Dec-2024, was 633 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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