Jeera Closes Higher On Strong Buying Interest

Jeera prices closed higher by 0.73 per cent on Thursday 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 December 2015 contract closed at Rs. 14,540 per quintal, up by 0.73 per cent, after opening at Rs. 14,310 against the previous closing price of Rs. 14,435. It touched the intra-day high of Rs. 14,650.
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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