Jeera On NCDEX Settled Up By 3.16% At 19105



Jeera on NCDEX settled up by 3.16% at 19105 supported by lower than expected stocks levels in the country and lower arrivals. The jeera arrival in June is lower this year compared to May as well as June last year. 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. The stock levels in the NCDEX warehouse increased to 1,313 tonnes as on July 10 from 1,187 tonnes on Jun 30.

Last year, stocks were higher at 3,482 tonnes. Lower carryover stock coupled with higher export demand may push up jeera prices, as traders fear tight supply conditions in the coming months. The carryover stock has dipped to about 2 lakh bags (each of 55 kg) as against the normal 20-25 lakh bags, thereby reducing the availability even as the demand for exports and domestic consumption remains firm.


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