Jeera On NCDEX Settled Up By 1.57% At 16510

Jeera on NCDEX settled up by 1.57% at 16510 on expectation of rising domestic and export demand at the spot market. Though, some gains were capped as the cumin seed sowing will soon start in Gujarat and Rajasthan and on hopes of increasing acreage this season due to better realizations. The export demand going through a sluggish phase following reduced buying by China and Hanjin shipping company fiasco is expected to pick up in the coming months. Indian cumin is priced $200 lower than the stock in Syria and Turkey at $2500 per tonne but there are no takers with China going slow on purchase. The bankruptcy of Hanjin shipping company also led to delay in shipments affecting exports.

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