Jeera On NCDEX Settled Up By 1.99% At 17195

Jeera on NCDEX settled up by 1.99% at 17195 on expectation of rising overseas demand at the spot market. Though, some gains were capped as the arrivals of jeera from the producing regions of Gujarat are improving. The reports showed that 3,044 tons of jeera arrived during February 13-17 compared to 1,957 tons in the previous week. Jeera (Cumin) output in India may fall by 12 per cent to 387,000 tonnes during 2016-17 due to lower acreage and adverse weather conditions. The country had produced 438,000 tonne of the spice in 2015-16. Gujarat, the highest jeera-producing state in the country, has reported a fall in area under the crop by six per cent to 278,700 hectares in 2016-17, from 295,200 hectares in 2015-16, according to state agriculture department data.

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