Jeera On NCDEX Settled Up By 0.06% At 17935

Jeera on NCDEX settled up by 0.06% at 17935 on lower arrivals from the producing regions. The arrivals have now slowed down in the physical market. As per data, about 4,316 tonnes of jeera arrived in May (1-14) compared to 17,494 in April (1-14). 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 increase to 2,176 tonnes, up by 125% in last 15 days. On 1st May, the stocks were only 964 tonnes. Sources estimate India’s jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimated. 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.

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