Jeera On NCDEX Settled Up By 1.56% At 19480

Jeera on NCDEX settled up by 1.56% at 19480 due to dwindling stocks and restricted arrivals in the major markets of Gujarat. Jeera stocks in the producing and consuming markets are state to be lower due to fall in output during 2016-17. Domestic demand is also likely to pick up in the coming months. Jeera output in Gujarat during 2016-17 was estimated lower at 212,000 ton due to fall in acreage, Gujarat Agriculture ministry data showed.

India's jeera exports during 2016-17 jumped by 22% to 119,000 ton from 97,790 ton a year ago. As per, jeera arrival during first fifteen days of July recorded only 524.5 tonnes compared to 3922 tonnes and 4148 tonnes in previous two fortnights in June. As per the data release by government, jeera exports in April 2017 was 14,599 tonnes, were down 9% from March. In 2016/17, country exports increase by 26% to 1.24 lt in as per the data release by Dept. of commerce, GOI.

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