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NCDEX Jeera Finishes Higher On Short Covering: April 11, 2012

ByCommodityOnline
Published 04/11/2012, 03:11 AM
Updated 05/14/2017, 06:45 AM

Spot prices of jeera remained steady throughout the day and settled 0.48% higher on Tuesday owing to lacklustre trades at the domestic market.

While futures remained bearish in the early part of the day and touched new contract low of Rs.11,860/qtl, they bounced back towards the end of the session and settled 1.14% higher yesterday.

Carryover stocks of jeera are expected to be around 7-8 lakh bags as compared to 4-5 lakh bags in the last year.

Production, Arrivals And Exports

Unjha markets witnessed arrivals of 35,000 bags while offtakes remained same at 35,000 bags on Tuesday. Production of jeera in 2011-12 is expected to be around 35 lakh bags as compared to 29 lakh bags in 2010-11, with each bag weighing 55 kgs (Source: Spot Market Traders).

According to Spices Board of India, exports of Jeera during April 2011- January 2012 stood at 34,500 tonnes as compared to 22,450 tonnes in 2010-11, an increase of 54%. However, month on month exports of jeera witnessed a decline of 40%.

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