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Jeera firm at Unjha & Rajkot as buyers active

24 Mar 2023 6:07 pm
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Mumbai, March 24 (Commoditiescontrol): Jeera price inch higher by Rs 50-75/20Kg at both Unjha and Rajkot market as buyers active at lower rates.
Unjha & Rajkot market will be closed from 27th March till 3rd April due to the approaching financial year-end and the tight liquidity situation causing financial constraints.

At Unjha, Jeera price gained by Rs 50-75/20Kg, as per quality on buying support from local traders, stockiest and exporter purchases amid increased arrivals of 45000 bags, up from 40000-42000 bags during previous session. Weather reported clear at Unjha market.

Similarly, Price of Jeera increased by Rs 50-75/20kg at Rajkot on need based local demand with arrivals of 2200-2300 bags compared to 2000 bags in the previous day. As per local traders, farmers were holding stock in anticipation of price rise in near future.

Singapore quality for export was offered higher by Rs 200 at Rs 7,075/20Kg within 15 days Kandla-Mundra delivery.

As per market participants, Jeera price is likely to remain firm due to unfavorable weather conditions affecting crop, quality, yield and supply from main producing areas of Rajasthan. Moreover, increased export demand for jeera will support prices further. Against projections of surplus crop, now the yield is expected to reduce yields by at least 20%. At least 70% of the crop in Rajasthan is yet to be harvested and about 30% in Gujarat at Kutch and Banaskantha districts.

Jeera stock at the NCDEX accredited warehouses as on March 23 was reported at 2,120 MT at Unjha center, down from 2,210 MT in the previous day, as per exchange data.

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