Commodity Online MUMBAI: Jeera sentiments remained weak on Wednesday due to increased selling pressure. Over all weakness in spices pulled down Jeera prices however spot market participants were of the view that prices should improve.
In fact spice board of India has released the April-May 2009 spice export figures. Jeera export has increased but overall exports of all spices declined by about 10 % in value while 23 % in export volume as compared to the same month last year.
Festive demand would emerge by mid July and prices are expected to get some support.
Explore Commodity Online Mobile ServicesReports of good crop in Turkey and Syria played on the negative sentiments as higher arrivals from those countries would affect the exports from here resulting in a fall in Indian rates.
Apprehensions of lower production and reports of lower carryover stock are there in the Indian markets.
Courtesy: Religare Commodities
