Agri Commodity Trading Tips and Forecast – Currently, jeera futures higher compared to last year despite larger supplies backed by steadily increasing demand for good quality crop from exporters.
In April, we have observed improving demand for the Jeera from the bulk buyers and stockists after unseasonal rains hit the top two Jeera growing states – Gujarat and Rajasthan when the harvesting still progress in some areas.
Moreover, new crop from Syria and Turkey expected to come in the international market from May onwards and there is uncertainty over production volumes in those countries.
Overall, Jeera availability will be higher this season but going forward the export demand from the country will play a major role in prices movement. We expect the Jeera prices to cross 18,000 rupees per 100 kg in the 2-3 month period.
According to market sources, India’s exports of Jeera are likely to cross 1.80 lakh tonnes up 12.5% on-year, as prices were lower during Feb-March. Jeera exported in seed as well as powdered form. The major export destination for jeera seed are Vietnam, Bangladesh, USA and Pakistan.
According to data compiled and published by DGCIS, Jeera shipment is higher by 23.2% at 1.57 lakh tonnes during the first 11-months of 2018/19 financial year. In February, country exports 10,186 tonnes of jeera, up 4.63% on year at compared to 9,736 tonnes last year. Going forward the Jeera exports figures expected to be higher in February and March.
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