Jeera On NCDEX Settled Down By -2.42% At 18990

Jeera on NCDEX settled down by -2.42% at 18990 on sluggish demand in the major markets of Rajasthan. Though, restricted supplies from the producing regions capped some losses. Industrial buyers have already sourced sufficient quantity for the domestic requirements but the export demand may pick up as prices have been going down since last one month. 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. 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.

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