According to Angel Commodities, expect Jeera futures may trade sideways on improving supplies.
Angel Commodities' report on Jeera
Jeera March future closed higher due to good demand seen in spot markets. However, market participants are expecting good exports demand in coming weeks. The arrivals have been good in the physical market. As per Agmarknet data, during Mar 1-20 about 30,695 tonnes of jeera arrived compared to 9,373 tonnes during last month same period.
We expect Jeera futures may trade sideways on improving supplies. Uncertain export demand for new season crop is keeping the prices little volatile. There are reports of lower production estimates in Gujarat and improved exports in 2016/17 financial year.
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