Jeera On NCDEX Settled Down By -0.7% At 19885

Jeera on NCDEX settled down by -0.7% at 19885 on profit booking after prices gained on supply concern and hopes for fresh export demand in view of weak supplies in global markets. India may get fresh orders as there are reports of limited stocks in other producing countries. Demand for jeera from retail buyers and masala manufacturers had picked up as traders have started making their inventories with the smooth implantation of GST. Jeera output in Gujarat during 2016-17 is estimated lower at 212,000 ton due to fall in acreage, Gujarat Agriculture ministry data showed.

In Delhi physical market, Jeera Ganesh jumped to Rs 20,400-20,500 up from Rs 19,200-19,300 per quintal on lack of fresh supplies from Gujarat. India' jeera exports during 2016-17 jumped by 22% to 119,000 ton from 97,790 ton a year ago. Sources estimate India’s jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimated.

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