NCDEX Jeera for Aug delivery contract closed higher on Short covering on Thursday as market participants are moving to far month contract. Near month August delivery contract is now attracting additional pre-expiry margins. Far month Sep delivery contract has seen some fresh buying yesterday. Jeera arrival during in July dropped to 3,668 tonnes as compared to June arrival data. In June, arrival record at 8,072 tonnes.

As per the data release by government, in May 2017, exports are down 35.8% to 13,605 tonnes compared to 21,188 tonnes exported during last May. Moreover, Jeera exports during first five months in 2017 is 5039 tonnes, up 9.7% compared to last year exports volume for the same period.

NCDEX August Turmeric futures continue its uptrend on Thursday on dry conditions in turmeric growing areas, slower sowing progress and good physical demand. In Telangana, turmeric acreage as on 29-Jul-17, down 2.5% to 39,000 hectares as compared to last year acreage of 40,000 hectares Market arrivals dropped about 30% in July compared to June.

Outlook

We expect Jeera futures expected to trade may trade sideways today but, tight supplies due to rain damage and good physical as well as export demand may keep the prices higher.

Turmeric futures expected to trade sideways to higher on dry conditions in the turmeric growing regions of south India. Moreover, improving demand from upcountry buyers and lower carryover stock this season may also support prices.

Daily Nifty Trading Tips click here>> 

http://ripplesadvisory.com/nifty-future-.php

.