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(Indicative Commodity Prices
in US$ PMT FOB port, India) 30th Sep - US$ 2450-2525
The prices in local market
are up due to good festival demand but strong dollar is keeping cumin low for
export. The Oct, nov and jan futures all are quoted usd 60-105 below the spot
prices. 25th Sep - US$ 2475-2550
Though the drop in cumin prices
in local market was nominal due to lack of demand, the weaker rupee made it even
more attractive. Importers can stock up taking the advantage of depriciating rupee.
The Oct. futures right now are trading at around 7.4% below the present market. 22nd
Sep - US$ 2525-2600
With more supply than demand the prices in Indian market
went down. The huge rupee appreciation today absorbed the fall in dollar terms
or it could have dropped further by usd 50 more. The cumin Oct. futures showed
the drop of approx. 3.4% on today. 15th Sep - USD 2550-2650
The
prices of cumin seed once again were on decline due to weaker future markets.
The Sep and Oct futures both fell today by more than 4% on profit booking. The
difference between spot market and sept. futures is around 6% with futures getting
offered at lower level. 11th Sept. - US$ 2600-2700
Best Machine
Cleaned - US$ 2950-3050
The jeera prices were too down like pepper both
of which mainly move in tandem. The cumin futures too once again was down. Though
the difference between spot and futures price is around 5.5%, exporters have to
be cautious with their order booking as seller may exit the delivery option with
2.5% penalty rather than buying so high from spot market to settle delivery and
they may then have to buy from the spot market. If defaults happens then the prices
in spot market will certainly move upwards as stockists will sieze this opportunity
to sell the goods to exporters who have orders in hand but were unable to get
goods from exchanges because of seller's defaults. 10th Sept - US$ 2700-2800
Best
Machine Cleaned - US$ 3100-3200
The fall in futures market pulled down
the spot prices too. Though Syria and Turkey are nowhere near in International
cumin market but the lower local demand, stronger dollar and weaker futures made
Indian jeera more attractive for importers. Today itself the fall in Sept. futures
was more than 4%, hence exporters preferring to buy from there can offer even
on more lower prices. 8th Sept. - US$ 2750-2825
Though the cumin
prices went down in spot market its sept. futures prices were up by around 3%
due to good export orders booked for sept. shipments. The futures prices have
been ruling quite below the spot market so the exporters preferred to cover their
requirements from future platform rather than present market, hence the fall was
seen on spot market. The sept. end shipments are at USD 2700-2775.
5th
Sep - The prices more or less remained on the same level. Though in Euro it
went up due to depriciation of euro currency against rupee. | 
