Jeera Updates, ncdex free trial

Advisory Data:-

Bargain buying was seen in jeera futures in the last penultimate hour of trading on the heels of strong export demand of jeera along with receding supplies in local mandies. The NCDEX futures spurted by almost Rs 200 per quintal today.

Market sources suggested that India's total jeera exports are expected to reach 45000 tonnes in the current year due to lower prices of Indian range of jeera along with waning supply in other exporting nations. In 2011, India has exported around 32500 tonnes of jeera .And this year, India has exported almost 33500 tonnes of jeera (almost 75% of the targeted exports ).

Also, receding stocks in major mandies also added some gains in jeera futures at lower levels. The total jeera stocks are currently estimated at around 7-8 lakh bags , down almost 3 lakh bags from the last year.

The NCDEX October Jeera contract swell by almost Rs 205 per quintal to settle at Rs 13900 per quintal in today's trading. The NCDEX futures improved almost Rs 500 per quintal during the day. The contract decreased 500 positions in open interest indicating short covering by speculators.

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