| Date: |
19-04-2011 |
| Subject: |
Jeera Plummets On Steady Arrivals In Major Mandies |
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Jeera futures wilted more than Rs. 300 per quintal in today's trading due to strong arrivals in major mandies coupled with weak export data in the current season.
In the spot market , the total daily arrivals of around 27000-30000 bags of jeera were reported in Unjha mandi. This was mainly due to strong supplies from both Gujarat and Rajasthan.
Moreover, waning export demand also reduced the strength of jeera at higher levels. As per the latest release from the Spices Board of India, during April-February 2010-11, jeera exports dropped by 38% to 27,500 tonnes while value gained by 48% to Rs. 33,372 lakhs.
In NCDEX, the prices of May Benchmark contract shrugged off almost Rs. 344 per quintal and were trading at Rs. 15200 per quintal in today's trading.
Source : indiainfoline.com
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