Commodities

Jeera gains despite new arrivals

Our Correspondent Rajkot | Updated on March 10, 2011 Published on March 10, 2011

jeera





Jeera prices rose on Thursday despite new arrivals as they were of poorer quality. Besides, export enquiries pushed up the prices.

At the National Commodity and Derivatives Exchange, jeera for March delivery increased by Rs 90 to Rs 16,285 a quintal, with an open interest of 7,428 lots. Jeera April contract gained Rs 78 to Rs 16,700, with an open interest of 17,166 lots.

Spot jeera was up by Rs 25-30. Quality jeera fetched Rs 3,000-3,200 for 20 kg, average jeera traded at Rs 2,700-2,900 and inferior jeera was at Rs 2,500-2,700 for 20 kg in Rajkot. In Unjha, the spice quoted Rs 1,800-3,500 for 20 kg.

Howeever, arrivals declined from 20,000 bags to 17,000 bags in Unjha on Thursday. In Rajkot, around 1,500 bags arrived.

A Rajkot-based trader, Mr Ashvin Patel, said, “In the coming days, jeera prices may increase further.”

According to the latest projection by trade sources, the total production of jeera in the current season is likely to be around 21 lakh bags (of 60 kg each), three lakh less than the earlier projection. Production last year was reported at 29 lakh bags. Overseas demand is expected to increase because of shortage in international market, since arrivals from other major producers like Syria and Turkey will begin only in April.

Published on March 10, 2011
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