Jeera futures plunge on profit booking

Jeera futures prices fell sharply by Rs 56 to Rs 14,514 per quintal today, as speculators booked profits amid sluggish demand.

Jeera prices for delivery in February traded lower by Rs 56, or 0.38 per cent, to Rs 14,514 per quintal, with an open interest of 1,5021 lots at the National Commodity and Derivatives Exchange platform.

Similarly, the spice for delivery in January declined by Rs 50, or 0.35 per cent, to Rs 14,184 per quintal, clocking a trade volume of 6,507 lots, while the March contract lost Rs 49, or 0.33 per cent, to Rs 14,785 per quintal, clocking an open interest of 6,339 lots.

Analysts said profit bookings by speculators at prevailing higher levels and slackened demand in the spot market mainly pulled down jeera futures.