Jeera trading range for the day is 17910-18520

Jeera on NCDEX settled up by 1.42% at 18195 on expectations of fresh export and domestic buying. Expectations of higher sowing area under jeera due to higher prices limited the upside. Sowing of jeera for rabi season has started in slower pace and is expected to pickup intensely in the coming days. In the global market, jeera production is expected to witness a decline in other major producing countries such as Syria and Turkey. India imported around 2,550 ton jeera during Apr-Oct 28 as against negligible in the previous year.

 

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 In 2016- 17, the output of jeera is seen falling in other major producers Syria and Turkey to 10,000 ton and 12,000 ton respectively from 15,000 ton and 17,000 ton in 2015-16. As per market source, India is likely to export 40,000-45,000 ton more jeera in coming months. 

 

As per fourth advance estimate of Gujarat State for 2015-16, jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. However, it is much lower than 2013-14 output when the state produced 346,000-ton jeera. According Department of commerce data, the exports of Jeera in the first three months (Apr-Jun) of 2016-17 is at 44,023 tonnes, higher by 71.7% compared to last year same time.

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