Futures For Mar Delivery Closed Lower On Thursday



Futures for Mar delivery closed lower on Thursday tracking spot prices which continue to trade lower as new season jeera arrived in market. New jeera crop started arriving in the key spot market of Unjha in Gujarat. In the current rabi season, Gujarat farmers have planted jeera in 2,78,700 hectares, down by 16,700 hectares compared to last year acreage of 2,95,400 hectares till same period. As per second advance estimates for 2016/17, production of Jeera in Gujarat will be 2.21 lakh tonnes, down almost 11% compared to last year production of 2.38 lt. Moreover, there is a forecast of fall in jeera production by 12 % to 387,000 tonnes during 2016-17 due to lower acreage.

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