FREE COMMODITY JEERA NEWS 30-12-2016
Jeera on NCDEX settled up by 0.26% at 17565 tracking good demand in the physical market. The demand for exports has supported the jeera prices but recently the good sowing progress is weighing on prices. Though, some gains were capped on expectation of increase in Jeera area in Gujarat state mainly in Saurashtra and Kutch zone current year. The progress of Jeera sowing in Gujarat is now at par with the last year acreage. Gujarat farmers have planted jeera in 2,67,100 hectares, down by 1200 hectares compared to last year acreage of 2,68,300 hectares same period. As per traders, India's jeera exports are likely to rise 30% to 88,000 tonnes in AprDec, because of robust demand from overseas market and negligible stocks in other exporting nations. Sowing has been good so far and weather conditions are also favorable for jeera crop. As all is going well as exporters are not buying in large quantities but are waiting for the new crop. However, looking at the current trend, buyers may not take a risk and initially demand will be low at the beginning of the new season. According to jeera
exporters, while the new season is likely to start in March, farmers have gradually begun accepting payment digitally, and have therefore been able to ensure steady supply. In Unjha, a key spot market in Gujarat, jeera edged down by -9.6 rupees to end at 18025 rupee per 100 kg.Technically market is under fresh buying as market has witnessed gain in open interest by 2.08% to settled at 3981 while prices up 45 rupee, now Jeera is getting support at 17450 and below same could see a test of 17335 level, And resistance is now likely to be seen at 17685, a move above could see prices testing 17805.
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Jeera on NCDEX settled up by 0.26% at 17565 tracking good demand in the physical market. The demand for exports has supported the jeera prices but recently the good sowing progress is weighing on prices. Though, some gains were capped on expectation of increase in Jeera area in Gujarat state mainly in Saurashtra and Kutch zone current year. The progress of Jeera sowing in Gujarat is now at par with the last year acreage. Gujarat farmers have planted jeera in 2,67,100 hectares, down by 1200 hectares compared to last year acreage of 2,68,300 hectares same period. As per traders, India's jeera exports are likely to rise 30% to 88,000 tonnes in AprDec, because of robust demand from overseas market and negligible stocks in other exporting nations. Sowing has been good so far and weather conditions are also favorable for jeera crop. As all is going well as exporters are not buying in large quantities but are waiting for the new crop. However, looking at the current trend, buyers may not take a risk and initially demand will be low at the beginning of the new season. According to jeera
exporters, while the new season is likely to start in March, farmers have gradually begun accepting payment digitally, and have therefore been able to ensure steady supply. In Unjha, a key spot market in Gujarat, jeera edged down by -9.6 rupees to end at 18025 rupee per 100 kg.Technically market is under fresh buying as market has witnessed gain in open interest by 2.08% to settled at 3981 while prices up 45 rupee, now Jeera is getting support at 17450 and below same could see a test of 17335 level, And resistance is now likely to be seen at 17685, a move above could see prices testing 17805.
