Jeera On NCDEX Settled Up 1.84% At 18265



Jeera on NCDEX settled up 1.84% at 18265 as arrivals have started depleting as farmers are holding stocks hoping rise in prices in the coming months. Jeera exports are expected to touch 120,000 ton in the just ended financial year 2016-17. Sources estimate India’s jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimates put out by experts. Even at the lower crop estimate, jeera exports are projected to range between 100,000-150,000 tonnes, for the year.

Exports will happen in spite of higher prices because there is no supplier of jeera available globally. Syria has a significant share at 30,000-40,000 tonnes, while Turkey is very small at 10,000 tonnes. 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 about 2,092 tonnes, higher by 117% as compared to stocks on 1 st May. The stocks were only 964 tonnes in the begin on the month.

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