Jeera Closes Higher On Limited Supplies

Jeera prices closed higher by 0.31 per cent on Friday at the National Commodity & Derivatives Exchange Limited as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for January 2015 contract closed at Rs. 14,640 per quintal, up by 0.31 per cent, after opening at Rs. 14,555 against the previous closing price of Rs. 14,595. It touched the intra-day high of Rs. 14,750.
Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

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