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Jeera on NCDEX settled down -0.56% at 16865 on late profit booking after prices seen supported earlier as market participants are expecting good exports demand in coming weeks. The arrivals have been good in the physical market. Lower carryover stock coupled with higher export demand may push up jeera prices, as traders fear tight supply conditions in the coming months. The carryover stock has dipped to about 2 lakh bags (each of 55 kg) as against the normal 20-25 lakh bags, thereby reducing the availability even as the demand for exports and domestic consumption remains firm, trader sources said.
* Jeera trading range for the day is 16630-17060.
* Jeera dropped on late profit booking after prices seen supported earlier as market participants are expecting good exports demand.
* As per data, during Mar 1-15 about 21,513 tonnes of jeera arrived compared to 6,120 tonnes during last month same period.
* NCDEX accredited warehouses jeera stocks gained by 273 tonnes to 339 tonnes.
* In Unjha, a key spot market in Gujarat, jeera edged down by -78.35 Rupees to end at 17115.4 Rupees per 100 kg.
Cotton on MCX settled up 0.28% at 21420 after the China Cotton Association released data indicating robust demand for the fiber from the third largest cotton importer. Chinese imports for last month soared 146% year-on-year to 138,100 tons, according to the China Cotton Association. The news follows a 20% rise in January to 114,924 tons. Prices gained on robust demand for U.S. fiber overseas and the solid demand from China comes despite the Chinese government's daily auctions of 30,000 tons of cotton from its stockpiles to feed it domestic market.
* Cotton trading range for the day is 21193-21593.
* Cotton gained after the China Cotton Association released data indicating robust demand for the fiber from the third largest cotton importer.
* Cotton prices in spot market gained by 20.00 rupees and settled at 20880.00 rupees.