Cumin Prices Surge Amid Rising Demand

Ahmedabad, May 6 (CommoditiesControl): In Gujarat, the price of cumin has witnessed a notable increase, leading to a rise in arrivals from farmers. Traders attribute this surge in arrivals to the combination of lower prices and increased demand in the market.

Today, spurred by local demand, the price of cumin surged by Rs 50 per 20 kg. Additionally, robust export demand has further boosted prices. With all markets in Gujarat set to remain closed tomorrow, Tuesday, due to general elections, market trends will be closely monitored for any shifts upon resumption of trading on Wednesday.

According to traders, arrival of around 32,000 sacks of cumin reported in Unjha Mandi today, with around 18,000 sacks originating from Rajasthan. The price range for rough cumin stood at Rs 3850-4150 per 20 kg, while the best quality commanded prices ranging from Rs 4650-4900 per 20 kg. The price of Bombay Bold variety was reported at Rs 4850-5650 per 20 kg. Overall, around 44,000 bags of cumin arrived in the state today.

In Gondal Mandi, prices ranged between Rs 4851-5021 per 20 kg, with 910 bags arriving. Meanwhile, in Rajkot mandi, where approximately 1200 bags were recorded, prices were reported at Rs 4100-5001 per 20 kg.

Jeeraunjha contract for MAY delivery settled at Rs 25140/quintal showing an rise of Rs 910 over previous close of Rs 24230/quintal,The contract moved in the range of Rs 23820-25195 for the day. Open interest decreased by -87 MT to 1275 MT, while trading volume decreased by -873 to 849 MT.

Jeeraunjha contract for JUN delivery settled at Rs 24490/quintal showing an rise of Rs 755 over previous close of Rs 23735/quintal,The contract moved in the range of Rs 23510-24490 for the day. Open interest increased by 360 MT to 2385 MT, while trading volume decreased by -630 to 1332 MT.

Jeeraunjha contract for JUL delivery settled at Rs 23800/quintal showing an fall of Rs -340 over previous close of Rs 24140/quintal,The contract moved in the range of Rs 23800-23800 for the day. Open interest was simillar by 0 MT to 3 MT, while trading volume decreased by -3 to 0 MT.

Currently The spread between MAY and JUN contract is 650 Rs/quintal.

Currently The spread between JUN and JUL contract is 690 Rs/quintal.

Currently The spread between MAY and JUL contract is 1340 Rs/quintal.

JeeraUnjha stock in NCDEX accredited warehouse as on 06-May-2024, was NA MT

(By Commoditiescontrol Bureau: +91 9820130172)