| Date: |
14-07-2010 |
| Subject: |
Jeera Scales New Contract Highs On Strong Export Demand |
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Jeera futures have scaled new high in futures market on the account of receding arrivals in spot market along with strong export demand in domestic markets.
As per trade sources, the total stock position of jeera was at 8 lakh bags against 17 lakh bags reported last year in the same period. The daily average arrivals of jeera were also reduced to 6000 bags against 10000 bags reported previous week.
Prices were also augmented by strong export demand. At international market, the export prices of Syria and turkey were trading at $ 2780-2800 per tonne while Indian origin were at $2670-2700 per tonne. This might divert the international buyers toward Indian market.
Therefore, the future prices of August Benchmark contract have gained Rs 1200 per quintal in last one week and were quoting at Rs 14100 per quintal after hitting the high of Rs 14141 per quintal.
Source : India Infoline
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