Cumin Prices Soften in Gujarat; Arrival Reaches 14 Lakh Bags This Season

Ahmedabad, March 12 (CommoditiesControl): The cumin market in Gujarat is witnessing a significant softening of prices, with a total arrival of 14 lakh bags in the ongoing season till today. The continuous increase in cumin arrivals has led to a drop in prices by Rs 50-100 per 20 kg, driven by limited demand in the state.

Traders highlight that the initial phase of the season has seen a robust arrival of cumin, setting the tone for market trends in the coming days. The cumin market will largely depend on the performance of the export trade as the season progresses.

Rajkot traders anticipate a gradual rise in cumin arrivals, with expectations for new shipments from Rajasthan and Madhya Pradesh by the end of March. This is likely to contribute to increased arrivals in Unja, adding further complexity to market conditions.

In Unja, reports indicate an arrival of 52,000-53,000 bags of new cumin, each bag weighing 55 kg. Rough cumin prices range between Rs 4400-4600 per 20 kg, while the best quality commands prices in the range of Rs 5000-5350 per 20 kg. The premium Bombay Bold variety is priced between Rs 5400-6200 per 20 kg, with an additional 30,000 sacks available in nearby businesses. The overall state saw an arrival of around 90,000 bags of cumin today.

Despite new arrivals being halted in the Rajkot market, pending goods were traded at Rs 4600-5220. Gondal Mandi reported an arrival of 5,000 bags today, with prices ranging from Rs 4800-5200 per 20 kg, depending on the quality.








Jeeraunjha contract for MAR delivery settled at Rs 27300/quintal showing an rise of Rs 350 over previous close of Rs 26950/quintal,The contract moved in the range of Rs 26210-27300 for the day. Open interest decreased by -165 MT to 372 MT, while trading volume decreased by -744 to 438 MT

Jeeraunjha contract for APR delivery settled at Rs 25450/quintal showing an fall of Rs -280 over previous close of Rs 25730/quintal,The contract moved in the range of Rs 25060-25690 for the day. Open interest increased by 87 MT to 2718 MT, while trading volume decreased by -1185 to 801 MT.

Jeeraunjha contract for MAY delivery settled at Rs 25595/quintal showing an fall of Rs -375 over previous close of Rs 25970/quintal,The contract moved in the range of Rs 24940-25790 for the day. Open interest was simillar by 0 MT to 480 MT, while trading volume decreased by -141 to 51 MT.

Currently The spread between MAR and APR contract is 1850 Rs/quintal.

Currently The spread between APR and MAY contract is -145 Rs/quintal.

Currently The spread between MAR and MAY contract is 1705 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 12-Mar-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)