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NCDEX Jeera Tumbles On Fresh Arrivals: April 2, 2012

ByCommodityOnline
Published 04/02/2012, 03:25 AM
Updated 05/14/2017, 06:45 AM

Improved fresh arrivals in the domestic market coupled with fragile overseas demand led Spot prices and Futures to settle 1.7% and 0.5% lower respectively w-o-w.

Spot markets of Unjha although remained closed from 29th March to 31st March 2012 on account of financial year ending and will reopen on Monday 02, April 2012.

Carryover stocks of jeera is 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 22,000 bags 3,000 bags less as compared to previous day while offtakes stood at 20,000 bags on Wednesday. Production of jeera in 2011-12 is expected to be around 35 lakh bags as compared to 29 lakh bags in 2010-11. (Each bag weighs 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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