Jeera On NCDEX Settled Down By -3.56% At 18420

Jeera on NCDEX settled down by -3.56% at 18420 amid lower domestic and exports demand at the spot market. Furthermore, huge stocks at the spot markets following higher supplies from the major growing regions in Gujarat and Rajasthan too fuelled the downtrend. 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. The arrivals have been lower during April compared to March. As per data, about 30,901 tonnes of jeera arrived compared to 43,831 in previous month. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI. 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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