Jeera May Futures Closed Lower On Thursday

Jeera May futures closed lower on Thursday on technical selling but the trend looks sideways. There is anticipation of better export prospects in coming months. Recently, Gujarat Agriculture Department in its 3rd advance estimates for 2016/17 has revised down the production estimates to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt. The arrivals have been lower during the first 25 days of current month compared to last month same period. As per Agmarknet data, about 30,123 tonnes of jeera arrived compared to 43,130 last month. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI.

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