Jeera On NCDEX Settled Up By 0.62% At 17145

Jeera on NCDEX settled up by 0.62% at 17145 due to tight stocks due to lower output last year. Jeera sowing stood at 276,000 hectare in Gujarat until now versus 268,000 a year ago. However, reports of adverse weather in the producing centres are a concern. Prevailing above normal temperature in producing centres may hit the growth of plants. India imported around 2,550 ton jeera during Apr-Oct as against negligible in the previous year. As per traders, India's jeera exports are likely to rise 30% to 88,000 ton during Apr-Dec, because of robust demand from overseas market and negligible stocks in other exporting nations. Sowing has been good so far and weather conditions are also favorable for jeera crop

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