Spot Market Update: Recent Selling In Futures Weighs On Jeera

Futures witnessed some selling recently and hurt the activities in ready market as demand remained lax. Arrivals stay elevated in major Jeera mandies and traders are eying further increase in supplies in coming weeks. Sentiments have been dominated recently by a spurt in Jeera acreage in Gujarat. Supplies are seen picking up. The spot prices are currently trading at Rs 15900 per quintal in Unjha, down 1% on the day. Jeera supplies in Unjha stayed around 20000 bags today. A weak undertone in Indian Rupee recently is keeping the export demand hopes supported.