Jeera On NCDEX Settled Down By -0.18% At 19470



Jeera on NCDEX settled down by -0.18% at 19470 tracking weakness in spot demand after prices gained on reports lower arrivals in Gujarat on expectation of damage to stored jeera due to heavy rains. As per data, jeera arrival during in July dropped to 3,668 tonnes as compared to June arrival data. In June, arrival record at 8,072 tonnes. As per the data release by government, Jeera exports during first five months in 2017 is 5039 tonnes, up 9.7% compared to last year exports volume for the same period.

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.

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