Jeera Update Update

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Jeera on NCDEX settled down by -1.03% at 17285 amid expectation of better crop next year. However downside seen limited amid poor supplies due to fag-end of the season and hopes of good export demand. Reports of lower output in other producing countries, Turkey and Syria will help the Indian exporters to clinch more export deals. 

Expectations of good demand for the coming festive season may also support the upward price trend. 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.

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