Jeera On NCDEX Settled Up 0.72% At 17440

Jeera on NCDEX settled up 0.72% at 17440 amid rising export demand at the spot market despite of reports of higher sowing. Jeera sowing current year completed around 180300 hectares as compared to last year same period 127600 hectares, as on now.Normal area in Gujarat reported 339000 hectares. According to sources, jeera area likely to increase in Gujarat current year. However, in Rajasthan, Jeera area likely to go down by around 10-15 percent as farmers likely to shift other crops. The stock position in NCDEX warehouse is at lower level compared to last year stocks. According Department of commerce data, the exports of Jeera in the first six months (Apr-Sep) of 2016-17 is recorded at 70,809 tonnes, higher by 51% compared to same period last year.

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