Jeera Sep futures edged higher on Monday due to short covering and close at 16, 925 rupees per 100 kg. However, balanced higher supply situation is keeping prices in a range and about 10% lower than last year levels. We have seen higher supplies, steady demand and lower exports is pressurizing the prices. As per, Agmarknet data arrivals of jeera in Gujarat is about 22,200 tn during 1-25 Aug compared to 12,000 tn last year same period. As per Commerce Ministry data, the Jeera exports down to 18,165 tn compared to 22,000 tn last year in June. Overall, the export of Jeera has dropped 6.4% in the first quarter of FY20 to 71,000 compared to 75,800 tn in the same period last fiscal.
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