FREE COMMODITY JEERA NEWS 02-01-17
Jeera on NCDEX settled up 1.02% at 16375 on rising export demand in the physical market. Though, some gains were capped due to the possibility of higher production in next season following good sowing and favourable weather condition in the producing belts. Sowing has been good so far and weather conditions are also favorable for jeera crop. As all is going well as exporters are not buying in large quantities but are waiting for the new crop. However, looking at the current trend, buyers may not take a risk and initially demand will be low at the beginning of the new season. According to jeera exporters, while the new season is likely to start in March, farmers have gradually begun accepting payment digitally, and have therefore been able to ensure steady supply. Jeera exporters may not face the problems that cotton, groundnut or other commodities exporters are facing
due to the cash crunch post demonetisation. The new season for jeera will start in March, by which time exporters may be able to source the required stocks. As per industry data, India exported about 100,000 tonnes of the spice during April to December and more than 20,000 tonnes of additional export would be possible during the next two months. As against this, India's total jeera exports were 98,000 tonnes in 2015-16. Technically market is under fresh buying as market has witnessed gain in open interest by 4.82% to settled at 1893 while prices up 165 rupee, now Jeera is getting support at 16220 and below same could see a test of 16065 level, And resistance is now likely to be seen at 16465, a move above could see prices testing 16555.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
due to the cash crunch post demonetisation. The new season for jeera will start in March, by which time exporters may be able to source the required stocks. As per industry data, India exported about 100,000 tonnes of the spice during April to December and more than 20,000 tonnes of additional export would be possible during the next two months. As against this, India's total jeera exports were 98,000 tonnes in 2015-16. Technically market is under fresh buying as market has witnessed gain in open interest by 4.82% to settled at 1893 while prices up 165 rupee, now Jeera is getting support at 16220 and below same could see a test of 16065 level, And resistance is now likely to be seen at 16465, a move above could see prices testing 16555.
