Jeera On NCDEX Settled Up 1.19% At 17880

Jeera on NCDEX settled up 1.19% at 17880 on short covering after prices dropped earlier as export and local demand is likely to poor. Jeera exports are expected to touch 120,000 ton in the just ended financial year 2016-17. 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 but the trade has been slow down. As per 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 1,395 tonnes on May 24, fall from 2,092 tonnes a week ago.

However, on 1 st May the stock was close to 964 tonnes. Last year, stocks were higher at 4,101 tonnes. At Patan market in Patan(Guj.), total arrivals are at 67 quintals, lower by 4 quintals as compared to previous day. At Dhrol market in Jamnagar(Guj.), sources reported arrivals at 17 quintals, up by 8 quintals from previous day’s arrivals.

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