MUMBAI (Commodity Online): Jeera futures extended uptrend on Friday on short covering by the traders on the back of thin supply from the domestic markets though higher production concerns in 21012 limited the uptrend.
In NCDEX jeera February contract is trading at Rs.14435 per quintal, down by0.89 per cen on 16:20 IST against the previous close.
In the morning session the contract traded at a range of Rs.14280-14448 per quintal. Open interest of the contract is 10647 lots and volume traded is 4137 lots for the time being.
According to Gujarat farm ministry, area sown under Jeera till January, 18th 2012 stood at 3.682 lakh hectares (lh) up 50% as compared to last year while area covered in Rajasthan till date is expected to be 3.03 lakh hectares as compared to 3.30 lakh hectares in the same period
last year.
According to Spices Board of India, exports of Jeera during April 2011-November 2011 stood at 26,500 tonnes as compared to 20,750 tonnes in 2010-11, an increase of 27.7%.
