Jeera On NCDEX Settled Up By 2.99% At 17405

Jeera on NCDEX settled up by 2.99% at 17405 on revival of buying and lack of selling in the wake of reports that weak rains may hit jeera sowing operations. However upside seen limited due to a slowdown in exports and a likely rise in acreage this year. As per market source, acreage under jeera is expected to increase 10-15% in Gujarat and Rajasthan due to better realization compared to other crops. Recent good rainfall in Gujarat is supportive for desired soil moisture ahead of commencement of sowing from mid October. As per 4thadvance estimate of Gujarat State for 2015-16, production is pegged at 238,000 ton compared to 197,000 ton in 2014-15. In 2013-14, the production was at 346,000 ton.

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