International Spice Commodities Update – Cumin

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Cumin prices gained Rs 107 ($2.18, €1.64, £1.38) to Rs 14,040 ($285.65, €214.78, £181.72) per quintal in futures trade today as traders created fresh positions, driven by a rise in spot demand.

However, estimates of higher output this year limited the gain.

At the National Commodity and Derivatives Exchange, the March contract for cumin rose by Rs 107 ($2.18, €1.64, £1.38), or 0.77%, to Rs 14,040 ($285.65, €214.78, £181.72) per quintal, with an open interest of 11,853 lots.

The April contract gained Rs 94 ($1.91, €1.44, £1.22), or 0.66%, to Rs 14,250 ($289.93, €217.99, £184.44) per quintal, with a business volume of 10,878 lots.

Analysts said fresh buying by traders following pick-up in demand in the spot market mainly helped cumin futures prices to trade higher.

www.keresspices.com

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