Spot Market Update: Jeera Breaks Above Rs 16K In Unjha

Jeera has gained good traction this week on export demand hopes. 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 further. The spot prices are currently trading at Rs 16100 per quintal in Unjha, up 0.30% on the day. Jeera supplies in Unjha stayed around 20000 bags today. A weak undertone in Indian Rupee, which plunged to near 15 month low is keeping the export demand hopes supported. A strong surge in futures market today is also seen lifting sentiments.