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4th Nov 09 (Indicative
prices)
Spices: (per
ton)
Cumin Seed - Jeera:(fob
Kandla / Mundra)
Machine Cleaned 99%-US$ 2650-2725
Cumin prices have got firmer in Indian market on the back of very good
export demand and firm spot market. The delay in harvesting also added
to increase in prices. Even then, Indian jeera is the most competitive
in world market as Syria and Turkey are selling at high premium. Turkey
origin is selling at around US$ 2800-2900 per ton fob Izmir port. The
spot market has increased by more than 9% since the opening up of markets
after Diwali.
The futures market too hav jumped up tremendously in last 15 days. Nov
contract moved up by nearly 6% while dec futures increased by around 7%
and Jan by 8.50%. The market is quite bullish at this stage. May show
some correction in coming days.
Jeera futures Contracts (approx. in US$ per 100kg) - Nov - US$ 281.5,
Dec - 288.4, Jan - 292.4
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