International Spice Commodities Update – Cumin

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Cumin futures fell by Rs 240 ($4.78, €3.63, £3.01) to Rs 12,970 ($258.29, €196.42, £162.72) per quintal today as speculators offloaded their positions following increased supplies in the physical market against subdued demand. Expectations of higher output this year also put pressure on cumin prices.

At the National Commodity and Derivatives Exchange, the April cumin fell by Rs 240 ($4.78, €3.63, £3.01), or 1.82%, to Rs 12,970 ($258.29, €196.42, £162.72) per quintal with an open interest of 18,780 lots.

The March spice lost Rs 225 ($4.48, €3.41, £2.82), or 1.76%, to Rs 12,530 ($249.53, €189.75, £157.20) per quintal in 1,332 lots.

Analysts said offloading of positions by speculators due to sluggish demand in the spot market and reports of a higher output this year also kept pressure on cumin futures prices.

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