Today Ncdex Jeera News

Jeera settled up by 0.64% at 15620 as the overall acreage of jeera is likely to decline by 15-20 percent. Moreover, slow progress of sowing at the major producing regions of Gujarat and Rajasthan keeping prices higher in the spot market. Gujarat, the top cumin producing state, has planted less cumin untill Nov 16, 2015 compared to last year sowing progress. In Gujarat, jeera is planted in 71 per cent less area and has sown 17,400 hectares compared to 60, 900 hectares last year. Geo-political trouble in two major exporting countries – Syria and Turkey – seems to have failed to spice up jeera exports from India due to higher domestic price. According to govt data, exports for 2015-16 shows a decline trend compared to last year until September.
Trading Ideas:
Jeera trading range for the day is 15260-16000.
Jeera prices ended with gains as the overall acreage of jeera is likely to decline by 15-20 percent.
Moreover, slow progress of sowing at the major producing regions of Gujarat and Rajasthan keeping prices higher in the spot market.
NCDEX accredited warehouses jeera stocks dropped by 75 tonnes to 6595 tonnes.
In Unjha, a key spot market in Gujarat, jeera edged up by 20 rupees to end at 16100 rupee per 100 kg.

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