Jeera On NCDEX Settled Up 1.39% At 18590

Jeera on NCDEX settled up 1.39% at 18590 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. Exports demand has been good throughout the season which may have steadied on seasonal trend. The jeera arrival in May is lower this year compared to last year. As per data, about 10,688 tonnes of jeera arrived in May 2017 compared to 14,302 May last year.

On the export front, country the exports increase by 26% to 1.24 lt in 2016/17 as per the data release by Dept. of commerce, GOI. The stock levels in the NCDEX warehouse as on Jun 20 were 1,217 tonnes which has been constant in June. 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. The output is far lower than the normal of 346,000 tonnes in Gujarat in 2013-14. Acreage has fallen to 279,000 hectares this year from 286,000 hectares earlier.

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