Jeera Closes Higher As Demand Picks Up

Jeera prices closed higher by 1.89 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for April 2016 contract closed at Rs. 16,170 per quintal, up by 1.89 per cent, after opening at Rs. 16,000 against the previous closing price of Rs. 15,870. It touched the intra-day high of Rs. 16,250.

Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries. Commodity markets were closed on April 19, 2016 on account of Mahavir Jayanti. 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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