Jeera On NCDEX Settled Up 0.29% At 19070

Jeera on NCDEX settled up 0.29% at 19070 backed by rising demand at the spot market. Further, restricted supplies in the domestic spot market and some export enquiries too fuelled the uptrend. Prices also seen supported on restricted inflow due to end of season and depleted stocks because of lower output. 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. At Jodhpur(Raj.) market in Jodhpur, arrivals were reported at 300 quintals, lower by 50 quintals from previous trading day. At Rajkot market in Rajkot(Guj.), traders reported arrivals at 90 quintals, lower by 150 quintal as against previous day. A recent assessment by the Federation of Indian Spices Stakeholders in Udaipur, Rajasthan, has forecast India’s cumin seed production at 5.83 million bags of 40 kg each (233,280 tonnes) this year against 4.20 million bags of 40 kg each (168,320 tonnes) last year.

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