JEERA REMAINS WEAK ON HIGHER SUPPLY, SHEDS 1.5%

Jeera prices fell further by 1.47 per cent to Rs 17,795 per quintal in futures trading today as speculators reduced their positions, triggered by higher supplies from producing belts.

At the NCDEX jeera for delivery in May month moved down by Rs 265 or 1.47 per cent to Rs 17,795 per quintal with an open interest of 19,416 lots.
The June contract lost Rs 260 or 1.41 per cent to Rs 18,150 per quintal in 8973 lots.
Jeera May futures closed 2.17% down on larger-than-expected arrivals in the mandis for the new season crop. There is concern over production due to untimely rainfall in March in Gujarat and Rajasthan capped. As per Government data, 2.41 lakh hectare of cumin crop is damaged in Rajasthan. The traders and stockiest were actively buying on inquiries for the exports in the spot market.
Jeera futures may trade on mixed to positive note, as there is good demand for exports. The retailers and stockiest are also buying at current market prices on anticipation of lesser arrivals in coming month on anticipation of lower production. 

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