Jeera Futures Closed Little Lower

Jeera futures closed little lower as prices were at higher levels in one month. Moreover, spot prices fell, as stockists demand was limited at higher prices. The NCDEX Jun’16 Jeera contract closed 0.06% down to close at Rs 17,610 per quintal. According to Dept of Commerce data, the export of jeera during 2015- 16 (Apr-Feb) surged to 93,539 tonnes compared to 1.56 lt exported last year same period. The exports for 2015-16 declined compared to last year. Devaluation of currencies in the buying countries and appreciation of Indian currency combined with high prices have led to a steep decline in jeera exports in 2015-16. As per third advance estimate of Gujarat State for 2015-16, production is pegged at 2.13 lt higher by about 7% forecasted in revised fourth advance estimate of 1.97 lt. In 2013-14, production was 3.46 lt.

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