Jeera On NCDEX Settled Down -0.6% At 19720

Jeera on NCDEX settled down -0.6% at 19720 on profit booking after gained on expectation of fresh export demand at the spot market. Further, lower supply from the producing regions also added support to jeera prices. According to Dept of Commerce data, the exports of Jeera in the first two month of 2016-17 increased by more than 82.5% at 33,908 tonnes compared to last year same time. As per the trade sources, India's jeera exports rose nearly 25% to around 50,000 tonnes in AprJul from 40,000 tn in the year-ago period due to good demand from China and Bangladesh. As per 4thadvance estimate of Gujarat State for 2015-16, production is pegged at 2.38 lt compared to 1.97 lt in 2014-15. In 2013-14, production was 3.46 lt. 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.

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