Jeera On NCDEX Settled Down By -1.51% At 17630

Jeera on NCDEX settled down by -1.51% at 17630 on account of subdued demand from local parties at the spot market. Further, anticipations of pick up in supplies on new season crops from the producing belts too fuelled the downtrend. Jeera output in India may fall by 12 per cent to 387,000 tonnes during 2016-17 due to lower acreage and adverse weather conditions. The country had produced 438,000 tonne of the spice in 2015-16. Gujarat, the highest jeera-producing state in the country, has reported a fall in area under the crop by six per cent to 278,700 hectares in 2016-17, from 295,200 hectares in 2015-16, according to state agriculture department data.

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