Jeera On NCDEX Settled Up

Jeera on NCDEX settled up by 2.26% at 19195 amid strong demand at spot markets amid limited availability of jeera stocks. Demand was strong, especially from overseas market, on shortage in global supplies. Arrivals are limited in the market, post demonetisation, and hence limited trading activities were witnessed during the week.

At the Unjha spot market, arrivals reported were limited due to lack of cash while good demand was witnessed. Sowing of jeera commenced on a stronger note in Gujarat due to record prices during the marketing year of 2016-17. According to latest data, sowing in Gujarat, top grower of jeera, was at 991 hectares compared to 174 hectares last year. 

market supply was at 440 quintal, higher by 342 quintal as against previous day. At Patan market in Patan(Guj.), total arrivals are at 24 quintals, down by 6 quintals as against previous day. India's jeera exports rose 36% on year to 73,000 tn in Apr-Oct as demand from overseas buyers was robust and output in other significant exporting nations dried up. The country had exported 53,800 tn of the commodity in the same period last year, according to Spices Board India.

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