Jeera On NCDEX Settled Up 0.5% At 19190



Jeera on NCDEX settled up 0.5% at 19190 amid improving physical demand on reports lower arrivals in Gujarat due to heavy rains. Cumin output has fallen 13 per cent year-on-year to 3.87 lakh tonnes in 2016-17. Chinese crop has been lower than expected. But next week, we will see whether buyers are willing to take jeera from India at the current price levels. Even now, we have to pay higher price in the local market to get sufficient load for export.

Turkey is offering cumin at $2,900 per tonne, which is $100 less than the Indian price, though the quantity on offer is much lower than that offered by India, which continues to be a major cumin supplier to the world market. Cumin exports from the country rose 22 per cent year-on-year in volume to 1,19,000 tonnes and 28 per cent in value to 1,963 crore in 2016-17. 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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