Jeera Ends Lower On Higher Supplies

Jeera prices closed lower by 2.43 per cent on Friday at the National Commodity & Derivatives Exchange Limite on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for March 2016 contract closed at Rs. 14,265 per quintal, down 2.43 per cent, after opening at Rs. 14,625 against the previous closing price of Rs. 14,620. It touched the intra-day low of Rs. 14,165.
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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