India jeera hits new highs as acreage dips

MUMBAI, Nov 26 (Reuters) - India jeera futures hit contract highs and ended up over 3 percent on Thursday as robust export demand and a fall in acreage supported sentiment, analysts said.

The benchmark December contract hit new a high of 16,182 rupees during the day.

"Jeera futures are expected to move up further due to lower crop estimates," said Chowda Reddy, an analyst with JRG Wealth Management.

A prolonged hot and dry spell has delayed the sowing of cumin, or jeera, slashing acreage 25-30 percent from last year, but traders and analysts said the deficit could narrow if conditions improve. [nBOM487298]

Export demand is firm as Syria and Turkey continue to quote at a premium to Indian prices.

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 %

====================================================== Dec NJEZ9 16,076 3.32

Jan NJEF0 16,403 3.28