Jeera qual­ity con­cerns un­nec­es­sary: NCDEX

Business Standard - - YOUR MONEY - DILIP KU­MAR JHA

Jeera (cumin) traders fear high mois­ture in the crop due to in­ces­sant rain in the past two months and, hence, on qual­ity.

An­tic­i­pat­ing prob­lems in de­liv­ery and there­fore avail­abil­ity, the price hit a life­time high at the bench­mark spot mar­ket in Un­jha (Mehsana district of Gu­jarat) to ~19,623 a quin­tal on July 31. On Fri­day, th­ese closed amid high volatil­ity at ~19,236 a quin­tal.

The Na­tional Com­mod­ity & Deriva­tives Ex­change (NCDEX) says 62 per cent of the stock which reached their reg­is­tered ware­houses at Un­jha has been of the req­ui­site qual­ity, at 1,471 tonnes (since early Au­gust). The har­vest sea­son ends in April and sow­ing starts in Oc­to­ber. Peak ar­rivals in the phys­i­cal mar­ket start grad­u­ally ta­per­ing in Au­gust and September.

NCDEX said it had fa­cil­i­tated 3,670 tonnes of ware­hous­ing ca­pac­ity to traders in the Un­jha mar­kets, more than ad­e­quate to meet the needs of prospec­tive de­pos­i­tors. The ex­change has pro­vided an on­line ware­house reser­va­tion sys­tem to book space for de­posits in a fair and trans­par­ent man­ner, it says, adding this is be­ing used by mar­ket par­tic­i­pants across the coun­try.

Each buyer may opt for as­say­ing at the time of with­drawal of the stock re­ceived as de­liv­ery. They need to ex­er­cise the op­tion prior to the ex­change de­liv­ery date of the spe­cific lot to get as­sur­ance on the qual­ity. The ex­change says it en­sures the ware­house ser­vice provider com­pen­sates the buyer for any de­fi­ciency here.

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