According to an Angel Commodities report, the global output of jeera is expected to decline by 25 per cent. The report further adds that demand from overseas has improved and is expected to surge in the coming weeks. The near-month contract jumped by over Rs 500 a quintal and the September contract rallied by more than Rs 600 a quintal on the National Commodity and Derivatives Exchange last week.
Analysts expect the futures prices to go up by Rs 500 a quintal. The July jeera contract closed at Rs 12,528 a quintal on Saturday, against the previous week's close of Rs 11,967 a quintal, up 4.69 per cent. The contract for September delivery crossed Rs 13,000 a quintal and closed the week at Rs 13,182 a quintal against the previous week's close of Rs 12,534.
