MUMBAI (Commodity Online): Jeera futures in India’s NCDEX remained higher Wednesday as traders created fresh positions due to firm spot demand along with rising enquiries from the international markets.
Jeera in NCDEX November contract traded in the evening session at Rs.15410 per quintal, higher by 2.66% and open interest of the same stood at 14625 lots as of now.
According to markets sources about 75% exports target has already been achieved due to a supply crunch in the global markets. Around 10 lakh bags of Jeera are reported across India.
Supply concerns from Syria and Turkey still exists. Expectations are that export orders may still be diverted to India from the international markets due to lack of supplies from Syria on back of the ongoing civil war.