Jeera On NCDEX Settled Down By -1.37% At 16860

Jeera on NCDEX settled down by -1.37% at 16860 on weak demand as new season jeera arrived in market. Trading sentiments weakened further due to adequate stocks availability in the physical market on account of higher supply from the producing belts. However, good overseas demand is seen supporting prices at lower levels. Jeera exports in India are likely to rise 22% to 120,000 tonnes in 2016-17 (Apr-Mar), compared with shipments of 98,700 tonnes a year ago, because of robust demand from overseas market and negligible stocks in other exporting nations. 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.

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