Jeera On NCDEX Settled Down By -1.59% At 16740

Jeera on NCDEX settled down by -1.59% at 16740 due to poor export buying and rising supplies of new crop in Gujarat and Rajasthan. Daily jeera arrivals have touched the level of 40,000 bags. However, reports of rains in producing centres of Rajasthan may limit the price fall. In Gujarat, jeera sowing fell to 278,000 hectares from 295,000 hectare, state government data showed. However, Federation of Indian Spices Stakeholders projected jeera output at 5.23 million bags of 55 kg during 2017 up from 4.21 million bags a year ago.

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