Jeera may further fall on subdued demand

Last Updated : November 03, 2011 10:10

MUMBAI (Commodity Online):Higher arrival pressure kept sentiments weak for Jeera as it failed to hold onto the upside movement early on.

Demand is still to pick up on the export front. Traders anticipate short term bearishness sentiments to prevail till exports pick up.

Medium term trend looks firm from expected rise in export demand but short term trend is expected to remain volatile. A firmness in Dollar vs Re too could support the export factor.

Reports of adverse weather conditions in other major producers like Turkey and Syria have created apprehensions of lower output there. Syrian production expected at 40000 tonnes and that in Turkey lower at 12-15000 tonnes.

Indian production expected at 28-30 lakh bags translating to more than 1.5 lakh tonnes.

Export demand from US and EU could also rise at these lower levels in com-ing weeks and that could have a moderate bullish impact on the prices.

Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.

Courtesy: Religare Commodities

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NCDEX jeera edges higher on bargain buying

Last Updated : October 28, 2011 15:00

MUMBAI (Commodity Online): Jeera futures rose Friday on bargain buying by the traders on the back of firm demand in the local markets for the ongoing festive seasons.

At NCDEX jeera November contract is trading at Rs.14700 per quintal, higher by 1.52 per cent on 14:55 IST against the previous close.

In the early session the contract traded at a range of Rs.14419-14846 per quintal. Open interest of the contract is 16692 lots and volume traded is 4044 lots for the time being.

No new Fundamental reports were there as Unjha mandi remained closed for Festival this week, Jeera traded with high volatility.

Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.

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India jeera may witness mixed trend

Last Updated : October 28, 2011 10:44

MUMBAI (Commodity Online):No new Fundamental reports were there as Unjha mandi remained closed for Festival this week, Jeera traded with high volatility.

There have been some recovery in the market rates and short covering at these levels cannot be ruled out by this week end. Exporters reportedly waiting for the prices to fall before initiating fresh demand in the markets.

Firmness in International market rates from Turkey and Syria could support the Indian rates –as per traders.

Medium term trend looks firm from expected rise in export demand but short term trend is expected to remain volatile. A firmness in Dollar vs Re too could support the export factor.

Reports of adverse weather conditions in other major producers like Turkey and Syria have created apprehensions of lower output there. Syrian production expected at 40000 tonnes and that in Turkey lower at 12-15000 tonnes.

Indian production expected at 28-30 lakh bags translating to more than 1.5 lakh tonnes.

Export demand from US and EU could also rise at these lower levels in coming weeks and that could have a moderate bullish impact on the prices.

Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.

Courtesy: Religare Commodities

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NCDEX November jeera jumps 1.53%

Last Updated : October 28, 2011 15:05MUMBAI (Commodity Online): NCDEX Jeera for November delivery climbed 1.53% due to short covering . The commodity is currently traded at Rs 14701. According to Kotak Commodities, Jeera gained due to short covering in the market .

The Production of Jeera in Gujarat and Rajasthan in 2011 was around 21lakh bags and 7-8 lakh bags respectively.

On NCDEX, The jeera November contract traded up 1.53% or Rs 222 touching Rs 14701 on Friday in after noon hours.

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