Jeera On NCDEX Settled Up By 1.07% At 16990

Jeera on NCDEX settled up by 1.07% at 16990 due to physical as well as export demand at the spot market. However upside seen limited on reports of good climatic conditions and hopes of higher yield in the season crop due to higher acreage at the producing belts. 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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