Commodity Jeera prices hits 2% upper circuit on lower supply in the spot market

Jeera futures continued to trade higher tracking reports of crop damage in Northern Gujarat due to disease and on concerns on yield due to lower moisture levels. Jeera Mar contract closed the day at Rs.14705 per quintal, higher by 1.87% from its previous close.

According to our sources, a disease has affected plant and 5% damage is expected on output. Spot markets are trading higher taking positive cues from the futures market.

 Advice: Our research team Advice Sold Agri Jeera around 14,700 march Contract targets 14500, 14300 stop loss 14911.