Commodities

Jeera futures open higher on export demand

| Updated on: Aug 21, 2012
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Jeera futures opened higher by 0.34 per cent at Rs 16,265 per quintal on Tuesday on higher export demand.

Supply in the domestic markets was lower as farmers were reluctant to sell their stocks at lower prices.

Arrivals at the Unjha spot market were almost equivalent to the demand at 6,000 bags (of 55 kgs each) on Saturday.

Production in 2011-12 is expected to be much higher at about 40 lakh bags against 29 lakh bags in 2010-11.

Expectations are that large export orders may be diverted to India from the international markets due to the ongoing civil war in Syria which is hampering supplies.

According to market sources, demand from Bangladesh has improved in the last few weeks.

Jeera prices in the international market of Indian origin are being offered at $3,000-3,025 a tonne (c&f). Syria and Turkey have stopped their shipments.

Published on March 12, 2018

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