Jeera Jun Futures Recover On Friday

Jeera Jun futures recover on Friday but closed lower by more than 2% last week due to muted physical demand. 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. 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 1,311 tonnes on May 26, fall from 1647 tonnes a week ago. However, on 1 st May the stock was about 964 tonnes. Last year, stocks were higher at 3,993 tonnes.

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