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Jeera on Monday crossed ₹50,000 per quintal levels in futures on export demand and strained stocks. On NCDEX Futures, Jeera for the June delivery contract gained 4 per cent to hit an all-time high of ₹50,765 per quintal.
In the spot markets in Unjha, jeera was quoted at ₹49,142.75 per quintal in the closing of the previous session on Friday. Jeera has rallied by over 90 per cent in six months, mainly on lower crops and higher demand led by China.
Spices expert Premchand Motta suggested that there is further upside likely in the seed spice. He said, “Jeera will remain up and up as supply is restricted. Already good export business has been done. The outlook for Jeera is good but profit booking will be seen.”
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