Jeera On NCDEX Settled Down By -1.02% At 19460

Jeera on NCDEX settled down by -1.02% at 19460 on profit booking after prices gained amid good demand in the physical market and lower arrivals as monsoon hit most parts of Gujarat. The arrivals may slow down as monsoon hit most parts of Gujarat. According to Dept of Commerce data, the exports of Jeera in the first month of 2016-17 increased by more than 50.7% at 13, 525 tonnes compared to last year same month. Moreover, export of jeera during 2015-16 is 93,078 tonnes compared to 1.56 lt exported last year same period. China imported 18,000-20,000 tonnes in April-May from India.

Exports during April-June were about 45,000 tonnes, sharply up from 27,000 tonnes in the corresponding period last year. Export of jeera fell 37 per cent in 2015-16 to 98,700 tonnes, also lower than the Spices Board's target of 100,000 tonnes. Shipments fell as unseasonable rain at the time of harvesting had affected quality of the crop. However, export in 2016-17 (April-March) is projected to exceed last year's target, with a better quality crop. Industrial buyers have already sourced sufficient quantity for domestic requirements but the export demand might pick up due to good demand from China and other countries, as stock levels there have been lower.

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