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India jeera ends down as export woes continue.


Date: 04-09-2009
Subject: India jeera ends down as export woes continue
MUMBAI, Sept 3 (Reuters) - India jeera futures ended down on Thursday as export woes and rains in the growing areas weighed on prices, analysts said.

"We reiterate our bearish view on jeera given the lower export demand after a higher crop of 35,000-40,000 tonnes from Syria and Turkey," said Mehul Agrawal, an analyst with Sharekhan Commodities.

A better-than-expected global crop this season has hurt Indian jeera prices.

Reports of rainfall in the key producing state of Gujarat also hurt investor appetite.

Rain in the producing regions is expected to enhance the moisture content of the soil, which could benefit the crop when sowing starts in October, analysts said.

Spot jeera fell by over 73 rupees and ended at 11,520.85 rupees per 100 kg in Unjha, a major trading hub in Gujarat.

Following are the closing prices of jeera futures in rupees per 100 kg on the National Commodity and Derivatives Exchange Ltd.

Source : REUTERS 

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