JEERA
PARES PRIOR GAINS
DATE: 30/05/2012
Indian Jeera futures
pared the last session gains on the back of profit taking triggered by weak
spices complex. The total arrivals decreased to 9,000 bags from 10,000 bags,
while demand was seen for around 11,000 bags against 9,000 bags. The total
domestic production of Jeera in the present year is estimated to be in the
range of 32-33 lakh bags (1 bag = 55 kg), against 28 lakh bags produced last
year. According to the agriculture ministry, in Gujarat, Jeera was sown on 2.65
lakh hectares, compared with 1.30 lakh hectares last year. The total production
in Gujarat is expected at 12-13 lakh bags, while in Rajasthan it is estimated
to be 10 lakh bags. The NCDEX Jeera for the June delivery quotes at Rs 12,682,
down by Rs 67.50 or 0.51% over the last day close.
POWERED BY: COMMODITY
INSIGHTS
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