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Cumin Prices Ease in Gujarat Markets Amid Limited Export Demand

24 Jan 2025 4:57 pm
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Mumbai, 24 Jan (Commoditiescontrol): The recent improvement in cumin prices in Gujarat markets came to a halt today as prices softened by ₹50 per 20 kg. Traders noted that new business activity in cumin remains subdued, with export trade operating at routine levels. No major deals were reported, and the market's focus remains on the extent of future selling pressure in cumin.

### Market Highlights

In Rajkot mandi, only one bag of cumin arrived today, traded at ₹9,999 per 20 kg. A farmer brought the cumin to the market as part of a ceremonial tradition, but arrivals of the new crop are still delayed.

In Unjha mandi, around 6,000 bags (1 bag = 55 kg) of cumin were received. Prices for rough quality cumin ranged from ₹4,000 to ₹4,150 per 20 kg, best quality traded at ₹4,200-4,300, and Bombay bold variety fetched ₹4,300-4,500 per 20 kg. The overall arrivals in Gujarat stood at approximately 15,000 bags.

In Gondal mandi, 1,676 bags of cumin arrived, with trades happening between ₹4,210 and ₹4,410 per 20 kg. Rajkot mandi recorded arrivals of 1,400 bags, and prices ranged from ₹4,010 to ₹4,285 per 20 kg.

### Futures Market Update

Cumin futures on NCDEX reflected a bearish sentiment:

- **March Contract:** Settled at ₹22,250 per quintal, down by ₹195 from the previous close of ₹22,445. The contract traded in the range of ₹22,165 to ₹22,400 during the day. Open interest rose by 51 MT to 2,364 MT, while trading volume decreased by 72 to 285 MT.

- **April Contract:** Settled at ₹22,035 per quintal, declining by ₹70 from the previous close of ₹22,105. The contract traded between ₹21,850 and ₹22,035. Open interest increased by 12 MT to 2,364 MT, while trading volume stood at 33 MT.

The market remains cautious amid limited export demand. Experts caution that without a significant uptick in exports, cumin prices could face additional pressure in the days ahead.


(By Commoditiescontrol Bureau: +91 9820130172)






       
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