April Futures Closed Higher On Thursday



April futures closed higher on Thursday on expectation of good demand for exports coupled with lower than expected supplies. The volume is now shifting to the far month May contract. The volume and OI jumped yesterday so as the prices which points a strong market. The arrivals have been lower during the second half of current month compared to last month same period while the demand have increased. As per Agmarknet data, during second half of March about 21,722 tonnes of jeera arrived compared to 22,108 during first half. Market participants are expecting good exports demand in coming months. As per second advance estimates for 2016/17, production of Jeera in Gujarat will be 2.21 lt, down almost 11% compared to last year production of 2.38 lt.

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