Capital stroke NCDEX Update : JEERA 22 MAY 2014

Jeera futures traded on a negative note on increased arrivals at higher prices and settled 2.18% lower. Prices have gained over the last couple of weeks on account of demand from stockists as well as domestic and overseas buyers. Supplies in the physical markets are comfortable on record output as well as huge carryover stocks, have capped sharp upside in the prices.
Area under jeera in Gujarat was reported at 455,000 ha as against 335,200 ha last year while about 390,000 ha were sown in Rajasthan.
Jeera futures may trade on a mixed note today. Comfortable supplies and higher arrivals may keep prices under check. Domestic as well as overseas demand may support prices at lower levels.

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