Jeera On NCDEX Settled Down By -0.35% At 19660

Jeera on NCDEX settled down by -0.35% at 19660 on profit booking after gaining on expectation of good physical and export demand at the spot market. Industrial buyers have already sourced sufficient quantity for the domestic requirements but the export demand may pickup due to good demand from China and other countries, as stock levels have been lower. India's 2015-16 jeera export fell to 98,700 ton from 155,500 ton a year ago but during the current fiscal year exports have grown up sharply due to keen buying by China. During the last few months China has emerged a major buyer of Indian jeera due to lower output there.

As per fourth advance estimate of Gujarat State for 2015-16, jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. However, it is much lower than 2013-14 output when the state produced 346,000 ton jeera. Sellers have disappeared in the wake of reports of weak rains in Saurashtra, which may impact sowing for the next season in coming months. Tough new crop supplies have started in Turkey but recent disturbances there will hit the export from Turkey. At Gondal (Guj.)

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