Jeera On NCDEX Settled Down By -0.83% At 18410



Jeera on NCDEX settled down by -0.83% at 18410 on profit booking after prices gained on a lower output forecast and strong demand from overseas buyers. Exporters are likely to fetch better realisation due to the quality of the jeera crop. Traders are expecting higher demand from overseas markets due to crunch in supplies from Turkey and Syria, other producing counties. Meantime, India's 2016-17 jeera export is estimated at 120,000 ton-second highest in a decade. However, arrivals have been lower during first 7 days of May compared to April. As per 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 3 rd 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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