Jeera Settled Down By -0.21% At 14095

Jeera settled down by -0.21% at 14095 on profit booking after prices seen supported due to weak production estimates. The sources stated that overall acreage of jeera is likely to decline by 15-20 percent as jeera area will be shifted towards castor seed for better returns. At Gondal (Guj.) market sources reported arrivals at 100 quintals, lower by 100 quintals from previous day’s arrivals. Jeera exports have fallen 45% to 27,000 ton during the first quarter of this fiscal due to poor buying by gulf countries. 

Jeera export is likely to remain around 90,000 ton during the current fiscal down from 155,000 ton in the previous year. India's 2014-15 jeera output was lower due to adverse weather at the time of harvesting in Gujarat and Rajasthan. As per fourth advance estimate of Gujarat government, in 2014-15 jeera output was estimated at 158,000 ton as against 346,000 ton a year ago due to fall in sowing caused by adverse weather conditions. India's total carryover stock is currently estimated between 0.7-0.8 Million bags versus 2.5 million bags a year ago.

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