Jeera Prices may Head for a New Peak this Year

The Economic Times - - Commodities Plus - Kr­ish­naku­mar.PK @times­

Kochi: Jeera or cumin prices are likely to hit a new peak this year ow­ing to the ro­bust de­mand and a short­fall in pro­duc­tion. Prices are up 20% from a year ago, to .₹ 172 per kg, but the in­dus­try ex­pects a fur­ther in­crease due to the ex­tended dry spell in the grow­ing re­gions of Gu­jarat and Ra­jasthan.

“Jeera fu­tures traded higher due to re­vival in de­mand from do­mes­tic and over­seas mar­kets. Ex­pec­ta­tion of lower yield than pro­jected ear­lier and prospects of rise in de­mand from over­seas mar­ket may sup­port fur­ther up­side in prices,” said Vishidha Vi­jayaku­mar, re­search an­a­lyst, Ge­ofin Com­trade. Ac­cord­ing to traders, to­tal pro­duc­tion in 201516 is likely to fall about 2.5 lakh tonnes from 3 lakh tonnes a year ear­lier. The ar­rivals may see a drop due to ab­nor­mally high-tem­per­a­ture since Jan­uary.

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