JEERA NCDEX UPDATE

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Jeera settled up 0.51% at 13915 as the overall acreage of jeera is likely to decline by 15-20 percent. In Gujarat state, current year, sowing completed 2,68,400 hectares, Normal area is 3,52,300 hectares. Last year Jeera sowing reported 2,66,700 hectares. Jeera sowing reported higher by 1700 hectares in Gujarat as compared to last year area, sowing almost completed in Gujarat current year. Farmers reveled that, Jeera sowing delay in Gujarat as compared to Rajasthan around 25-30 days. Weather in growing areas remain a very important factor for the near term market sentiments.

Trading Ideas:
Jeera trading range for the day is 13685-14065.
Jeera prices gained as the overall acreage of jeera is likely to decline by 15-20 percent.
Jeera sowing reported higher by 1700 hectares in Gujarat as compared to last year area, sowing almost completed in Gujarat current year.
India's total carryover stock is currently estimated between 0.7-0.8 million bags versus 2.5 million bags a year ago.
In Unjha, a key spot market in Gujarat, jeera edged up by 1.35 rupees to end at 14705 rupee per 100 kg.