Jeera Futures Closed Lower

Jeera futures closed lower due to low demand and pickup in jeera sowing in Gujarat, the main growing state. Jeera Jan’16 Futures closed 1.06% lower at Rs 14,600 / quintal.

Gujarat, the top cumin producing state, has planted more cumin until Dec 21, 2015 compared to last year sowing progress. In Gujarat, jeera is planted about 7.6 per cent more area at 2,68,300 hectares compared to 2,49,900 hectares last year same time. According to govt data, exports for 2015-16 shows a decline trend compared to last year until September. As per Agmarknet data, arrivals of Jeera in Gujarat markets for the calendar year 2015 till Oct is lower by 217 per cent at about 1.23 lt compared to 3.9 lt last year.

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