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Jeera Witnesses Steady Moves

Capital Market/ 16:18 , Oct 10, 2013

Jeera continues to see steady trades. The commodity has been facing moderate selling off late as the recent gains in the Indian Rupee, which tested its seven week high around 61 per US Dollar, are hurting the commodity on weak export prospects. The commodity had slumped in last few days, giving up on thin demand and selling pressure in futures. However, the supply remains poor and demand is expected to support prices in near term. Heavy rainfall has been witnessed in few regions Gujarat though no major impact of the same has been seen so far. Spot prices are lingering around seven month lows of Rs 13330 per quintal in Unjha, down Rs 20 per quintal on the day.

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