Jeera On NCDEX Settled Up By 1.57% At 18385

Jeera on NCDEX settled up by 1.57% at 18385 due to some fresh export enquiries at the spot market. Though, some gains were capped on reports of higher sowing at the producing belts of Gujarat. At higher levels buyers reported inactive in the spot market. Current year sowing area reported up in Gujarat also reported ontime sowing due to favourable weather. Jeera sowing in the state as on November 23 reached at 9.91 lakh hectares, sharply up from 1.74 lakh hectares same period a year ago. 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.

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