Jeera Jun Futures Close Higher On Thursday

Jeera Jun futures close higher on Thursday tracking spot market. Technically we have seen some short covering as open interest down by about 7.44% or 1,122 tonnes. As per Exchange circular, there will be additional margin of 5% on both sides from Monday, 29, May 2017, in additional to existing additional margin. The arrivals have slowed down in the physical market but the trade has been slow down. As per Agmarknet data, about 8661 tonnes of jeera arrived in May (1-25) compared to 29,322 in April (1-25). On the export front, country the exports increase by 29.6% to 1,08,513 tonnes in first 11 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI. The stock levels in the NCDEX warehouse is dropping to 1,395 tonnes on May 24, fall from 2,092 tonnes a week ago. However, on 1 st May the stock was close to 964 tonnes. Last year, stocks were higher at 4,101 tonnes.

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