NCDEX Jeera for Aug delivery contract fell on Monday as market participants liquidate their positions at higher levels. However, lower than expected stocks levels keep the prices higher in spot market. Jeera arrival during first fifteen days of July recorded only 524.5 tonnes compared to 3922 tonnes and 4148 tonnes in previous two fortnights in June. As per the data release by government, jeera exports in April 2017 was 14,599 tonnes, were down 9% from March. n 2016/17, country exports increase by 26% to 1.24 lt.

Outlook

We expect Jeera futures expected to trade sideways on expectation of further correction form higher levels. However, tight supplies and good physical as well as export demand may keep the prices higher.

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