Jeera settled down by -2.17% at 17565 due to higher arrivals at the spot market against steady demand for exports. There is concern over production due to untimely rainfall in March in Gujarat and Rajasthan.
As per Government data, 2.41 lakh hectare of cumin crop is damaged in Rajasthan. As per third advance estimate of Gujarat State, production is expected at 1.58 lakh tonnes in 2014-15 which is 54.3 per cent lower compared to last years’ production of 3.46 lakh tonnes. Jeera (cumin) exports have been 128,500 tonnes in the first nine months (Apr-Dec) of 2014-15, a rise of 28% from the corresponding period of the previous. Export orders are diverted to India due to Geo-political tensions in Syria and Turkey. At Patan market in Patan(Guj.) estimated market supply was at 66 quintals, up by 29 quintals as against previous day. At Rajkot market sources reported arrivals at 1040 quintal, higher by 20 quintal from previous day’s arrivals.
In Unjha, a key spot market in Gujarat, jeera edged down by -313.85 rupees to end at 18040 rupee per 100 kg. Technically market is under long liquidation as market has witnessed drop in open interest by -5.75% to settled at 19848 while prices down -390 rupee, now Jeera is getting support at 17300 and below same could see a test of 17035 level, and resistance is now likely to be seen at 17895, a move above could see prices testing 18225.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity Tips , Commodity free tips , Commodity intraday tips , MCX Tips Services and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
In Unjha, a key spot market in Gujarat, jeera edged down by -313.85 rupees to end at 18040 rupee per 100 kg. Technically market is under long liquidation as market has witnessed drop in open interest by -5.75% to settled at 19848 while prices down -390 rupee, now Jeera is getting support at 17300 and below same could see a test of 17035 level, and resistance is now likely to be seen at 17895, a move above could see prices testing 18225.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity Tips , Commodity free tips , Commodity intraday tips , MCX Tips Services and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
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