Jeera On NCDEX Settled Up 2.26% At 17880

Jeera on NCDEX settled up 2.26% at 17880 due to weak supplies position amid good demand from exporters. Though, some gains were capped on expectation of increase in Jeera area in Gujarat state mainly in Saurashtra and Kutch zone current year. Sowing has been good so far and weather conditions are also favorable for jeera crop. As all is going well as exporters are not buying in large quantities but are waiting for the new crop. However, looking at the current trend, buyers may not take a risk and initially demand will be low at the beginning of the new season. According to jeera exporters, while the new season is likely to start in March, farmers have gradually begun accepting payment digitally, and have therefore been able to ensure steady supply.

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