NCDEX allays jeera traders' fears of poor quality dispatch to warehouses

Traders were concerned over 'high-moisture' jeera crop, on account of incessant rainfall

The National Commodity & Derivatives Exchange (NCDEX) has issued a clarification saying 62 per cent of the total stock to the exchange-registered warehouses in Unjha, Gujarat, matched up to its quality standards after concerns were raised over the dispatch of sub-standard jeera by traders.

Citing incessant rainfall as the reason behind poor quality jeera, traders feared the delivery of sub-standard jeera stock in several warehouses.

Anticipating problems in the delivery and availability of the product, jeera prices hit a lifetime high in the benchmark spot Unjha market to trade at Rs 19,623 a quintal on July 31. This was, however,