Jeera prices turn weak on profit-booking

Jeera prices fell by Rs 84, or 0.61 per cent, to Rs 13,610 per quintal in futures trade today, as speculators booked profits.

However, depleting stocks following weak arrivals and spot demand, limited losses.

At the National Commodity and Derivatives Exchange, jeera for July contract fell Rs 84, or 0.61 per cent, to Rs 13,610 per quintal, with an open interest of 6,321 lots. 

The spice for delivery in September-month traded lower by Rs 84 or 0.59 per cent, to Rs 14,035 per quintal, with an open interest of 7,557 lots, while August-month contract eased by Rs 72, or 0.52 per cent, to Rs 13,830 per quintal, with a business volume of 12,339 lots.

Marketmen said continued profit booking by speculators at prevailing levels led to a fall in jeera futures prices but good spot demand and tight supplies from the producing belts helped in limiting losses.