Sensex 26419.66 59.55 0.23%
Nifty 7913.95 22.85 0.29%
Adverse weather conditions in Gujarat with fog and prospects of rains in some areas kept sentiments up for Jeera as that created apprehensions of damage to the crops whose sowing has already been delayed earlier. Weather remains critical for the crop growth stage. Delayed sowing and prospects of delayed arrivals have been there. Weather in growing areas in Gujarat and Rajasthan remained critical for the crop growth in coming weeks. Any adverse weather conditions there could have bullish impact on the prices.
Lower stock levels could support the rates further though demand in the mandis has remained weak. Higher acreage expected in Gujarat and Rajasthan due to good moisture content in the soil. Demand from US and European countries likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South East Asian countries there. Latest reports from Spice Board of India indicates the exports of Spices for the period April Oct have risen by 6% from 299 250 MT in 2009 to 317 800 MT in 2010. Jeera exports fell by 36% from 31 300 MT to 20 000 MT during the same period.
India Infoline News Service / 08:49, Aug 22, 2014
The outlook is a positive start with indices set to take initial cues from the global markets. US indices closed higher with S&P 500 at a record high. The Dow and S&P 500 added around 0.3% while Nasdaq gained marginally.