Jeera On NCDEX Settled Up By 0.86% At 17640

Jeera on NCDEX settled up by 0.86% at 17640 due to dwindling supplies and tight stocks. Hopes of better demand for export and coming festive season will also help the prices to rise. Prices also seen supported due to rise in exports and domestic demand amid festival season ahead. In 2016- 17, the output of jeera is seen falling in other major producers Syria and Turkey to 10,000 ton and 12,000 ton respectively from 15,000 ton and 17,000 ton in 2015-16, report added. As per market source, India is likely to export 40,000- 45,000 ton more jeera in coming months and may support the price to trade higher. 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.

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