Jeera On NCDEX Settled Up By 1.59% At 19495



Jeera on NCDEX settled up by 1.59% at 19495 due to expectation of good exports demand at the spot market. Though, some gains were capped on ample stocks position following higher supplies from the producing belt. On the export front, the Country exports increase by 32.7% to 1,01,188 tons in first 10 month of marketing year 2016/17. Exporters are likely to fetch better realisation due to the quality of the jeera crop. A recent assessment by the Federation of Indian Spices Stakeholders in Udaipur, Rajasthan, has forecast India’s cumin seed production at 5.83 million bags of 40 kg each (233,280 tonnes) this year against 4.20 million bags of 40 kg each (168,320 tonnes) last year. The latest spell of rainfall last week is estimated to have spoiled 30 per cent of the standing crop. Production estimates for 2016-17 are lower due to a decline in the jeera acreage in Gujarat. The Centre pegs production of jeera in the state at 221,000 tonnes, down 11 per cent from last year’s output of 238,000 tonnes.


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