Jeera On NCDEX Settled Down By -0.86% At 19505

Jeera on NCDEX settled down by -0.86% at 19505 on profit booking after prices gained on tight stocks and hopes for domestic as well exporters buying in the coming days. Jeera stocks in all the major producing centres are stated to be lower because of 2016-17 output in 2016-17. Jeera output in Gujarat-the major producing states-during 2016-17 was estimated lower at 212,000 ton due to fall in acreage, Gujarat Agriculture ministry data showed.

There are lower stocks in the production centers due to declined production and almost 70% of the total crop output has already hit the market. In Delhi physical market, Jeera Ganesh lost Rs 400 per quintal at Rs 19,500-19,600 per quintal on lack of follow up support at higher levels. India' jeera exports during 2016-17 jumped by 22% to 119,000 ton from 97,790 ton a year ago. 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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