Jeera prices to hit two-month high on firm global demand, lower output

Cumin seed (jeera) prices bounced back from recent lows to their highest in two months on a lower output forecast and strong demand from overseas buyers.The most active jeera contract for delivery in April on the National Commodity and Derivatives Exchange (NCDEX) rose 3.17 per cent to trade at Rs 18,410 a quintal before profit booking pulled it down marginally to Rs 18,310 in early evening trade on Tuesday. The contract showed a gain of around 8.5 per cent since early February. Astrology and Numerology Trading Tips

Similarly, jeera for delivery in May gained 2.72 per cent on Tuesday at Rs 18,515 a quintal. Analysts expect the trend to continue on robust overseas orders. “A further upsurge of Rs 400-700 a quintal is possible on overseas demand. Exporters are likely to fetch better realisation due to the quality of the jeera crop. With estimates of lower production, jeera prices are likely to remain bullish,” said Ritesh Kumar Sahu, an analyst with Angel Broking.  Future & Option Trading Tips