Jeera On NCDEX Settled Up 2.08% At 16900

Jeera on NCDEX settled up 2.08% at 16900 on the back of tight supply from the producing regions. Further, expectation of fresh export demand at the spot market also added support to jeera prices. Traders are expecting jeera export during the current fiscal around 120,000 ton up from 98,700 ton last year. However traders are hoping higher sowing this year because of attractive prices in the market. 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. However, it is much lower than 2013-14 output when the state produced 346,000 ton jeera.

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