According to Angel Commodities, We expect Jeera futures to trade higher due to diminishing supplies and expectation of good physical demand.
Angel Commodities' report on Jeera
Jeera May futures closed higher on Monday due to expectation of good demand for exports coupled with lower than expected supplies. The arrivals have been lower during the first half of current month compared to second half of last month. As per Agmarknet data, during first half of April about 16,441 tonnes of jeera arrived compared to 22,108 during second half of last month.
We expect Jeera futures to trade higher due to diminishing supplies and expectation of good physical demand. Moreover, higher exports in coming months may keep the prices supported at higher levels. Profit booking at higher levels may be possible.
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