Jeera On NCDEX Settled Down By -1.02% At 18875

Jeera on NCDEX settled down by -1.02% at 18875 on profit booking from higher levels due to lower physical demand. However, the prices have seen recovering on good export demand and lower stocks. Exports demand has been good throughout the season which is keeping the prices higher. The jeera arrival in June is lower this year compared to May as well as June 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 30 were 1,187 tonnes which has been constant in June. Last year, stocks were higher at 3,482 tonnes. Traders are expecting pickup in export demand in coming days due to lack of supplies from other producers-Turkey and Syria. Reports of lower output of jeera during 2016-17 may also boost the prices. Output of jeera in Gujarat during 2016-17 is estimated lower at 212,000 tons due to fall in acreage, Gujarat Agriculture ministry data showed.

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