Jeera On NCDEX Settled Down -1.77% At 16695

Jeera on NCDEX settled down -1.77% at 16695 as sowing is likely to be higher due to favourable weather conditions in the producing centres of Gujarat. However, tight stocks and likely emergence of export buying limited the downside. Traders are expecting jeera export during the current fiscal around 120,000 ton up from 98,700 ton last year. Farmers are likely to plant jeera on higher area due to favourable weather and prevailing high prices in the open market. Acreage is likely to up in Rajasthan as farmers may shift from coriander due to weak prices. 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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