Jeera On NCDEX Settled Down By -1.48% At 17985

Jeera on NCDEX settled down by -1.48% at 17985 on profit booking after prices seen supported due to good physical and export demand coupled with reports of lower production. Moreover, the Exchange will impose a 5% additional margin on all running as well as yet-to-be-launched futures contracts of jeera, on both buy and sell positions. The arrivals have been good during the second half of current month compared to last month same period. As per data, during Mar 15-19 about 23,377 tonnes of jeera arrived compared to 12,266. Market participants are expecting good exports demand in coming months. On the export front, India in 2016-17 is likely to cross 1.2 lt against 94,352 tonnes a year ago while in first 9 month of marketing year 2016/17, the exports increase by 36.7% to 93,724 tonnes as per the data release by Dept of commerce, GOI.

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