Ahmedabad, June 12 (CommoditiesControl): A sluggish environment continues to prevail in Gujarat's cumin market, with prices remaining stable amid low demand. Today, the spot market saw no significant movement, largely influenced by limited local demand and the gradual arrival of China's new cumin crop, which has lessened the international demand for Indian cumin.
According to traders, the Unjha market received around 16,000 bags of cumin today. Prices for rough cumin ranged from Rs 4800 to Rs 5000 per 20 kg, while the best quality cumin was priced between Rs 5300 and Rs 5400 per 20 kg. The premium Bombay Bold variety was trading at Rs 5400 to Rs 5600 per 20 kg.
In the Rajkot market, around 1000 bags of wheat were received, with prices varying from Rs 4250 to Rs 5430. Meanwhile, all activities in the Gondal market were halted today following an announcement by the Commission Agent Association, Mazdoor Union, and Vyapari Mandal, aiming to ensure the peace and security of Gondal.
Traders suggest that any improvement in cumin prices will depend on a potential increase in demand in the coming days. Until then, the market is expected to remain stable but sluggish, mirroring the current trend.
Jeeraunjha contract for JUN delivery settled at Rs 28700/quintal showing an rise of Rs 660 over previous close of Rs 28040/quintal,The contract moved in the range of Rs 28000-28940 for the day. Open interest decreased by -144 MT to 1056 MT, while trading volume decreased by -54 to 867 MT.
Jeeraunjha contract for JUL delivery settled at Rs 27450/quintal showing an rise of Rs 510 over previous close of Rs 26940/quintal,The contract moved in the range of Rs 26750-27640 for the day. Open interest increased by 147 MT to 3270 MT, while trading volume decreased by -36 to 1500 MT.
Jeeraunjha contract for AUG delivery settled at Rs 27190/quintal showing an rise of Rs 930 over previous close of Rs 26260/quintal,The contract moved in the range of Rs 26215-27190 for the day. Open interest increased by 45 MT to 123 MT, while trading volume increased by 81 to 99 MT.
Currently The spread between JUN and JUL contract is 1250 Rs/quintal.
Currently The spread between JUL and AUG contract is 260 Rs/quintal
Currently The spread between JUN and AUG contract is 1510 Rs/quintal.
JeeraUnjha stock in NCDEX accredited warehouse as on 12-Jun-2024, was NA MT
(By Commoditiescontrol Bureau: +91 9820130172)
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