Jeera futures decline on profit-booking
Jeera prices drifted by 0.65% to Rs 16,731 per quintal in futures trade today, as speculators booked profits at existing higher levels amid hopes of higher output following increased sowing in the current rabi season.
At the National Commodity and Derivatives Exchange, March jeera declined by Rs 109, or 0.65%, to Rs 16,731 per quintal, with an open interest of 7,014 lots.
The January delivery also lost Rs 99, or 0.62%, to Rs 15,823 per quintal, with an open interest of 2,568 lots.
Analysts said besides profit-bookings by speculators at prevailing higher levels, speculations of higher output on increased sowing in the current season, mainly led to the fall in jeera prices at futures market.
They said, however, some overseas demand, limited the losses.