Moneycontrol
Jan 11, 2017 01:31 PM IST | Source: Moneycontrol.com

Jeera futures for March to trade sideways: Angel Commodities

According to Angel Commodities, expect Jeera futures for March delivery to trade sideways on reports of good climatic conditions and higher acreage may lead to higher yield in the season crop.


Angel Commodities report on Jeera


Jeera futures for Mar’17 delivery closed lower on Tuesday due good sowing progress of jeera. However, Jan’17 delivery contract traded higher as the stocks are quite low while the China demand is good.


As on 01-Jan-17, Gujarat farmers have planted jeera in 2,67,680 hectares, higher by 8400 hectares compared to last year acreage of 2,68,400 hectares till same period. On the export front, India's jeera exports rise about 30% to 88,000 tonnes in Apr-Dec, because of robust demand from overseas market and negligible stocks in other exporting nations.


Outlook

We expect Jeera futures for March delivery to trade sideways on reports of good climatic conditions and higher acreage may lead to higher yield in the season crop.

For all commodities report, click here

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