MUMBAI (Commodity Online): Jeera fired up on strong demand in Unjha mandi amidst fall in arrivals over the last 2 days. Lower stocks and an expected rise in export demand kept prices firm. The exports are expected to rise in coming weeks.
Weather in growing areas in Gujarat remains important for the sowing aspects. Lower temperature can be beneficial for the crop. Higher rates in International markets too support the Bullish sentiments.
Strengthening of Dollar vs Re too is expected to have positive impact on export front. Lower stock levels have been reported in the mandi and that can keep the arrivals weak. Domestic demand had been good for the commodity and expected to pick up in coming weeks.
Trade commodities or equities from across the globe. Join Now Indian rates being reportedly lower than International ones from Turkey and Syria, traders are eyeing better exports in coming weeks ahead. Domestic demand from festivals also likely to rise. Better crop in International markets had kept exports low from here till last week
Report of export orders from Bangladesh were continuing.
As per the latest data released by Spice board of India, Jeera exports are estimated to fall to 18750 tons during the period Apr-Aug, 2009 from 21130 tons same period last year
Courtesy: Religare Commodities
