Jeera Jun Futures Continue

Jeera Jun futures continue its range bound trade this week to close higher on Thursday mostly on short covering despite weak spot prices. The arrivals have been lower during first 7 days of May compared to April. As per Agmarknet data, about 2,450 tonnes of jeera arrived in May (1-7) compared to 7,997 in April (1- 7). 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. 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.

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