Indian jeera futures ended higher on Tuesday due to the weak arrivals in the physical market and declining stocks in the warehouses, according to the analyst. Arrivals in the physical market were about 1,000 bags of 70 kg each, as compared to around 1,500-2,000 bags last week, said a Unjha-based trader.
Total stocks in the NCDEX warehouses stood at 663 tonnes. However, the outlook is bearish on expectations of a rise in area under production, said an analyst with a Mumbai-based commodity brokerage. Open interest for January contract rose to 6,048 tonnes from 5,787 tonnes the previous session. Spot jeera was trading steady at 10,978 rupees per 100 kg, a major trading hub in Gujarat.
Total stocks in the NCDEX warehouses stood at 663 tonnes. However, the outlook is bearish on expectations of a rise in area under production, said an analyst with a Mumbai-based commodity brokerage. Open interest for January contract rose to 6,048 tonnes from 5,787 tonnes the previous session. Spot jeera was trading steady at 10,978 rupees per 100 kg, a major trading hub in Gujarat.
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