Jeera Futures Fell Yesterday

Jeera futures fell yesterday due to profit booking however, revival of demand from the stockists on anticipation of better export demand capped further loss. Jeera Jan’16 Futures closed 0.76% down at Rs 14,440 / quintal.

Gujarat, the top cumin producing state, has planted more cumin until Dec 28, 2015 compared to last year sowing progress. In Gujarat, jeera is planted about 3.46 % more area at 2,68,400 hectares compared to 2,59,400 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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