Jeera Futures Closed Lower Last Week

Jeera futures closed lower last week tracking drop in the physical market. The demand for exports has supported the jeera prices in recent times but the good sowing progress is weighing on prices. NCDEX Jan’17 Jeera closed 3.24% down last week to settle at Rs 16,855 per quintal. The progress of Jeera sowing in Gujarat is good. As on 19-Dec-16, Gujarat farmers have planted jeera in 2,56,800 hectares, up by 5.6% compared to last year acreage of 2,43,000 hectares same period. As per traders, India's jeera exports are likely to rise 30% to 88,000 tn in Apr-Dec, because of robust demand from overseas market and negligible stocks in other exporting nations.

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