Ahmedabad, 27 June (CommoditiesControl): Cumin prices in Gujarat's markets have experienced a third consecutive day of decline, reaching around Rs 29,000 per quintal in both spot and futures markets. Today, spot market prices saw a decrease of Rs 50-100 per 20 kg, with a cumulative decline of Rs 200-300 over the past three days.
Traders anticipate further potential declines, citing good arrivals in the Unja market primarily from Rajasthan. Farmers in Gujarat are reluctant to sell at current prices, but there is expectation that selling pressure may increase in July-August. Additionally, the commencement of cumin exports from China in July could impact local prices and stimulate import activities if domestic prices remain high.
In today's trading at the Unja market, approximately 16,000 bags of cumin were received. Prices ranged from Rs 4,500-5,000 per 20 kg for rough cumin, Rs 5,200-5,300 per 20 kg for best quality, and Rs 5,300-5,400 per 20 kg for Bombay Bold variety. Overall, Gujarat received around 27,000 bags of cumin.
Specifically, in Gondal market, 322 bags of cumin were traded at Rs 5,311-5,561, while Rajkot market recorded arrivals of around 1,200 bags with prices ranging from Rs 4,550-5,500.
Jeeraunjha contract for JUL delivery settled at Rs 29080/quintal showing an fall of Rs -25 over previous close of Rs 29105/quintal,The contract moved in the range of Rs 28820-29400 for the day. Open interest decreased by -24 MT to 2751 MT, while trading volume decreased by -351 to 654 MT.
Jeeraunjha contract for AUG delivery settled at Rs 28690/quintal showing an fall of Rs -80 over previous close of Rs 28770/quintal,The contract moved in the range of Rs 28310-28910 for the day. Open interest increased by 33 MT to 1263 MT, while trading volume decreased by -267 to 243 MT.
Jeeraunjha contract for SEP delivery settled at Rs 28770/quintal showing an fall of Rs -685 over previous close of Rs 29455/quintal,The contract moved in the range of Rs 28770-28770 for the day. Open interest was simillar by 0 MT to 3 MT, while trading volume was simillar by 0 to 0 MT.
Currently The spread between JUL and AUG contract is 390 Rs/quintal.
Currently The spread between AUG and SEP contract is -80 Rs/quintal.
Currently The spread between JUL and SEP contract is 310 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 27-Jun-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
0 Comments 
Post Comment 
