Jeera futures edged higher since bargain hunting supported prices followed with short covering in the counter.

Spot prices advanced Rs 100 per quintal and traded near 12600 and arrivals at Unjha Mandi estimated around 2000 bags compared with 2500 bags in the previous day.

Favourable monsoon rains is expected to improve the sowing as well as acreage of cultivation of jeera were sowing usually starts in the month of October onwards.

Jeera exports in April – June 2010 declined 20 percent to 10,750 tonnes compared with same period last year.

According to market sources , the stocks available is estimated around 14 lakh bags compared with 16-17 lakh bags during the same period a year ago.

Courtesy: Geojit Comtrade Limited

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