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Cumin Prices Soften as Arrivals Drop in Gujarat

13 Jan 2025 5:20 pm
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Ahmedabad, January 13 (Commodities Control): The cumin market in Gujarat has been experiencing a slowdown for the past five working days, with prices falling by Rs 250 per 20 kg during this period. Despite a decrease in arrivals, sluggish trading activity has prevented any significant rise in prices. Traders suggest that farmers still hold large stocks of cumin, and as soon as market conditions improve, farmers are likely to increase their selling activity, which could help stabilize prices.

The sluggish demand for cumin in export markets is contributing to the downturn, with countries like China continuing to purchase cumin at lower prices. This muted demand from the international market, coupled with weak domestic trade, is keeping prices from rising in the short term.

Today, the Unjha market saw an arrival of approximately 7,000 bags (1 bag = 55 kg) of cumin. Prices in Unja were reported as follows: rough cumin traded between Rs 4,000 and Rs 4,100 per 20 kg, the best quality cumin was priced between Rs 4,100 and Rs 4,200 per 20 kg, while Bombay bold cumin fetched Rs 4,300 to Rs 4,400 per 20 kg. Overall, Gujarat's cumin markets reported an arrival of around 12,500 bags today.

In Gondal Mandi, 1,632 bags were traded, with prices ranging from Rs 4,330 to Rs 4,550 per 20 kg. In Rajkot Mandi, 900 bags arrived, and prices were recorded between Rs 4,000 and Rs 4,460 per 20 kg.

As market activity remains muted, the current trend suggests that cumin prices may continue to soften in the short term. However, a potential increase in selling activity from farmers and a possible uptick in export demand could reverse the downward trend once market conditions improve.



Jeeraunjha contract for JAN delivery settled at Rs 22955/quintal showing an fall of Rs -940 over previous close of Rs 23895/quintal,The contract moved in the range of Rs 22940-23750 for the day. Open interest decreased by -21 MT to 486 MT, while trading volume increased by 171 to 477 MT.

Jeeraunjha contract for MAR delivery settled at Rs 22505/quintal showing an fall of Rs -825 over previous close of Rs 23330/quintal,The contract moved in the range of Rs 22455-23205 for the day. Open interest increased by 183 MT to 2415 MT, while trading volume increased by 393 to 690 MT.

Jeeraunjha contract for MAY delivery settled at Rs 22860/quintal showing an fall of Rs -15 over previous close of Rs 22875/quintal,The contract moved in the range of Rs 22860-22860 for the day. Open interest was simillar by 0 MT to 0 MT, while trading volume was simillar by 0 to 0 MT.

Currently The spread between JAN and MAR contract is 450 Rs/quintal

Currently The spread between MAR and MAY contract is -355 Rs/quintal

Currently The spread between JAN and MAY contract is 95 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 13-Jan-2025, was 209 MT


(By Commoditiescontrol Bureau: +91 9820130172)


       
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