Jeera On NCDEX Settled Up By 0.28% At 17775



Jeera on NCDEX settled up by 0.28% at 17775 on anticipation of demand from the physical market. 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 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 1044 tonnes on May 30, fall from 1443 tonnes a week ago.

However, on 1 st May the stock was about 964 tonnes. Last year, stocks were higher at 3,897 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. Syria has a significant share at 30,000-40,000 tonnes, while Turkey is very small at 10,000 tonnes.


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