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Export inquiries perk up jeera

Our Correspondent
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Some fresh export inquiries and domestic demand pulled up jeera prices on Thursday. Slow sowing progress in jeera producing areas also support the price to move up.

On the National Commodity and Derivatives Exchange, jeera for December delivery rose by Rs 75, or 0.51 per cent, to Rs 14,835 a quintal, with an open interest of 14,808 lots.

The NCDEX January contract increased by Rs 60 to Rs 15,665 for 100 kg with an open interest of 5,700 lots.

NCDEX-accredited warehouses stocks dropped by 87 tonnes to 8,230 tonnes.

New jeera medium quoted higher by Rs 20-25 to Rs 2,420-2,530 for 20 kg; NCDEX quality raw quoted at Rs 2,720-2,820 at the Unjha market of Gujarat.

Arrivals stood at 6,000-7,000 bags and traded around 8,000-9,000.

Traders said apart from some export enquiries, reports of slow progress of sowing in the key producing State, Gujarat, due to inadequate soil moisture, influenced the prices at the futures trade.

According to markets sources, about 75 per cent exports target has already been achieved due to a supply crunch in the global markets.

Supply concerns from Syria and Turkey still exists.

Expectations are that export orders may still be diverted to India from the international markets due to lack of supplies from Syria on back of the ongoing civil war.

(This article was published on November 22, 2012)
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