Jeera prices have been shaved off by almost 1% in today's trading. Jeera futures are currently trading at 2% discount to spot market.Amidst long liquidations in future's market has mounted the bearish sentiments in both futures and spot market. However, exporter's demand is still robust against waning stock position at physical market. As per market sources, the total stock availability of jeera were at 4-4.5 lakh bags on 23rd December.
Long liquidation by arbitragers in spot market as futures were traded below spot has also added bearishness in future market. Selling was also on the back of strong production estimates for the next year as higher sowing acreage is likely during the current rabi season.
In today's trading , Jeera Ncdex January Benchmark Future was traded at Rs 10260 per quintal , down Rs 60 from previous close. On the other side, spot market was at Rs 10670 per quintal at Unjha Mandi
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