jeera latest news

 Jeera futures ended up on short covering amid fresh export enquiries. However, the overall trend remains bearish. As per trade source, jeera production in Rajasthan is likely to rise on suitable weather conditions and proper moisture content in the soil. The acreage was reported down but increase in yield would result on rise in production. As of December 20th 2011, jeera acreage in Rajasthan was 3.03 lakh hectares, down from near 3.30 lakh hectares same period a year ago. Added, yield of jeera in Rajasthan is expected to rise to 500 kg per acre from 348 kg a year ago. According to latest release by Gujarat Agriculture Department, jeera acreage in the state increased by 26 percent to 2.64 lakh hectares. The export demand is likely to rise further in coming months as Indian jeera was offered at a lower rate compared to other origin. As per market source, currently Indian jeera is offered at $2700 per tonne compared with $3200-$3300 two months ago. Crop failure in other major producing countries may also boost the export demand.