Jeera On NCDEX Settled Up By 1.75% At 16880

Jeera on NCDEX settled up by 1.75% at 16880 on anticipation of higher physical demand in coming weeks. Prices also up on good buying support by traders and stockists though they have sourced sufficient quantity for the domestic requirements. Export demand may pick up as prices have been going down since last one month. In the next few months, the prices will depend on export demand. 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. 

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. At Gondal (Guj.) market in Rajkot (Guj.), total arrivals are at 300 quintals, down by 900 quintals from previous trading day. At Patan market in Patan (Guj.) arrivals were reported at 7 quintals, unchanged as compared to previous day’s arrival. At Unjha market in Mehsana estimated market supply was at 5000 quintals, lower by 2000 quintals as against previous day.

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