Jeera Futures Ended Lower On Thursday

Jeera futures ended lower on Thursday on profit booking concern over export demand at higher levels. Jeera prices have surged about 9.5% in last one month due to lower arrivals and pick up demand. As per Agmarknet data, arrivals of jeera in the country were lower by 5.8% at 28,874 tonnes during April compared to 30,664 tonnes last year for the same period. As per government data, Jeera exports during first 11 months of FY 2017/18 (Apr-Feb) is 124,394 tonnes, up 13.6% compared to last year exports volume for the same period. India's jeera exports in February were up by 30% on year to 9,512 tonnes compared to 7,325 tonnes last year.

NCDEX Turmeric futures slipped about 2% on Thursday on profit booking at higher levels. Prices have touched 4 months high tracking improved demand in physical market due to reports of lower stocks. Turmeric prices have surged about 8% in April after it closed almost flat in March. Currently, turmeric stocks in the country is around 20 lakh bags (1 bag =70kg) compared to 35 lakh bags last year same time. However, the prices are still suppressed this season on concern about export demand in coming weeks. Supplies from the new season turmeric have been same during April at 1.25 lt compared last year, as per Agmarknet data. The export of turmeric is down by 11.8% to 98,487 tonnes for the first 11 month of FY 2017/18 (Apr-Feb) compared to last years’ exports.

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