Jeera price was moved up on the back of good export demand as well as seasonal buying at the domestic market. Short covering by the market participants
Trader said that, tight stocks position in the physical market on restricted supplies from producing regions and good demand from stockists and exporters supported the upside.
At the Unjha mandi of Gujarat, jeera arrival was registered 50,000 bags and price increased Rs 30-40 to Rs 2600-3450 per 20 kg. At Rajkot APMC jeera price was gained Rs 30 to Rs 2500-3375 per 20 kg.
According to Dept of Commerce data, the export of jeera during first 11 month of 2015-16 (Apr-Jan) is 71,983 tonnes compared to 1.37 lt exported last year same period.
At the National Commodity and Derivatives Exchange (NCDEX) jeera May contract was gained Rs 200 or 1.22 per cent to Rs 16585 per quintal, with an open interest of 15075 lots. NCDEX June contract was moved up by Rs 135 to Rs 16730 per quintal with an open interest of 4020 lots.
Market players are still expecting some more export enquiries on reports of good quality jeera production this year