Jeera prices rallied sharply and ended at 4 percent upper circuit on first trading day of the week. Fall in arrivals in spot markets and bullish trend in most of the agriculture commodities supported rally in prices. The active contract December NCDEX made new high of Rs13532 and ended at day’s high. Spot prices, which were steady in the initial trading hours rose sharply by Rs300 per quintal.
Outlook
Traders and stockiest are not willing to offload the produce on anticipation of further rise in prices
Agriculture commodities have turned bullish following sharp decline in kharif crop output and it has positive impact on spices also
Spot prices are quoting at Rs12800 per quintal at Unjha
Jeera futures may extend gains initially, but expected to take some correction from higher levels
Courtesy: JRG Wealth Management Want to get Futures prices on your mobile? Click here
