Jeera On NCDEX Settled Up By 0.69% At 16855

Jeera on NCDEX settled up by 0.69% at 16855 on reports of lower production estimates in Gujarat and improved exports in 2016/17 financial year. On the export front, Jeera exports from country increase by 26.9% to 1.33 lt for the calendar year 2016 while the exports increase by 36.7% to 93,724 tons in first 9 month of marketing year 2016/17.

Lower carryover stock coupled with higher export demand may push up jeera prices, as traders fear tight supply conditions in the coming months. The carryover stock has dipped to about 2 lakh bags as against the normal 20-25 lakh bags, thereby reducing the availability even as the demand for exports and domestic consumption remains firm, sources said.

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