Jeera Futures Close Higher Yesterday

Jeera futures close higher yesterday on reports of rain damage in Jeera crop in Gujarat. The April Jeera contract traded on NCDEX closed 1.56% higher to close at Rs 14,055/ quintal. There are reports of jeera flower dropping in some areas in north Gujarat but Saurashtra crop was also affected due to recent rains, which may have effect on total output. Market players are expecting export enquiries on reports of good quality jeera production this year. Lower demand in physical market coupled with reports of muted export orders and expectation of good production estimates in Gujarat and Rajasthan is pressurizing prices.

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