CUMIN SEED SWELLS ON STRONG EXPORT DATA, WEAK ARRIVALS
23rd March – 2012
Indian Cumin Seed futures swelled sharply on short covering at lower levels triggered by weak arrivals and reports of strong export data. www.goldennifty.com
As per the latest release from the Spices Board of India, 34,500 tonnes of Cumin worth R 49,477.05 lakh as against 22,450 tonnes valued at R 27,068.04 lakh with an increase of 54% in quantity and 83% in value have been exported during the current financial year.
The Jeera arrivals at the benchmark Unjha mandi slumped to 30,000 bags today from 32,000 bags with strong demand which stood at 30,000 bags. The spot Jeera quoted at R 2,000-2,200 per 20 kg. www.goldennifty.com
The NCDEX Jeera for the April delivery swelled by more than 2% with the counter currently quoting higher at R 12,205, up R 270 or 2.26% over the last close. The open interest added 1.40% to 15,378 tonnes. www.goldennifty.com
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