The Hindu Business Line : Jeera could continue to rule lower

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Mumbai , March 5

Jeera prices may continue to rule lower in the next few days on expectation of increase in fresh inflows amid limited demand.

Jeera prices at Unjha market yard in Gujarat were down Rs 150-200 at Rs 850-1,300 for 20-kg lot over last week on increased supply. Fresh inflows were around 15,000-16,000 bags (60 kg). However, they touched 20,000 bags level last week.

"Supply is comfortable. Fresh inflows may gain momentum after Holi (March 15). Prices are likely to remain low, as current demand is low," a local broker said.

Domestic demand from Maharashtra is likely to pick up after Holi. On the other hand, export demand is yet to pick but there are some enquiries. Indian prices are ruling higher by $50-60 a tonne than Turkey and Syria, Mr Yogesh Mehta, an exporter said.

Jeera crop in Gujarat and Rajasthan was expected to be around 22-25 lakh bags (each of 60 kg) this season, he said.

Chana seen firm

Desi chana prices may remain firm in the next few days on lower arrivals in the major terminal markets and restricted buying interest.

Overall supply in Andhra Pradesh and Mahrashtra is relatively low and fresh inflows from Madhya Pradesh and Rajasthan may improve from next week on onward.

"New arrivals in Rajasthan may start after Holi (March 15)," a local broker said.

Guarseed seen steady

Guarseed ready prices in Jodhpur market are likely to rule steady with limited trading interest amidst dull inflows.

Prices were ruling around Rs 4,475-4,550 per quintal on stray inflows and dull demand. Trading volume was low. Stockists' offerings were limited.

"Prices may remain steady and may hover around Rs 4,400-4,600 range," a Jodhpur-based trader said.