Futures Closed Down On Tuesday



Futures closed down on Tuesday on profit booking at higher levels. The prices have been in uptrend recently due to good demand in the physical market coupled with tight supplies with the stockists. Export enquiries from China are keeping the prices higher. Jeera acreage this season is also down in Gujarat compared to last year. As on 16-Jan-17, Gujarat farmers have planted jeera in 2,78,700 hectares, down by 13,700 hectares compared to last year acreage of 2,92,400 hectares till same period. On the export front, Jeera exports in India are likely to rise 22% to 120,000 tonnes in 2016- 17 (Apr-Mar), compared with shipments of 98,700 tonnes a year ago, because of robust demand from overseas market and negligible stocks in other exporting nations.

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