India Jeera Ends Lower On Poor Export; Seen Weak.

India's jeera futures reversed early gains to end lower on Tuesday due to sluggish exports and hopes of increased supplies by mid-February, which outweighed delayed sowing, analysts said.

Analysts expect jeera futures to open weak on Wednesday but are expected to recover towards end.

"Export demand is negligible because exporters are expecting further fall in prices with the arrivals of fresh crop. Jeera prices are likely to trade range-bound in coming days," said Jayesh Patel, a trader from Unjha, a key market for jeera in Gujarat.

At Unjha spot market, jeera fell 18 rupees to end at 14,689 rupees per 100 kg.

As on Jan. 10, in Gujarat, the biggest producer, area under jeera stood at 244,600 hectares, marginally higher than 242,700 hectares sowed a year ago, said J.H. Suthar, deputy director, state farm department.

In India, jeera is cultivated during winter from October to December, and harvested in February-April.

India's jeera exports in April-December fell 37 percent on year to 24,250 tonnes.

Following are the closing prices of jeera futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd.

Source : reuters.com