India jeera ends firm as export demand, firm spot support
MUMBAI, Nov 4 (Reuters) - India jeera futures ended firm on Wednesday as support from rising exports and firm spot demand underpinned sentiment, analysts said.
Export demand has been on the rise after global competitors Syria and Turkey have been selling at a premium to Indian rates, they said.
Jeera exports in September nearly tripled to 6,000 tonnes from the same period a year ago.
Sowing of the crop commenced last week and will provide further cues for prices going forward, analysts added.
Spot jeera rose by over 88 rupees and ended at 12,837.65 rupees per 100 kg in Unjha, a major trading hub in Gujarat.
Following are the closing prices of jeera futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd. <0#NJE:>
Contract Reuters code Price Change in %
======================================================
Nov NJEX9 13,267 0.61
Dec NJEZ9 13,559 1.07
(Reporting by Nandita Bose; Editing by Sunil Nair)
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