Jeera down 0.7% on profit-booking

September contract falls by similar margin

Amid profit-booking by speculators and improved rains in key growing region, jeera prices fell by Rs 110 to Rs 15,060 per quintal in futures trade today as speculators offloaded positions.

At the National Commodity and Derivatives Exchange, jeera for delivery in October fell by Rs 110, or 0.73%, to Rs 15,060 per quintal, with an open interest of 17,595 lots.

September jeera lost Rs 105, or 0.71%, to Rs 14,660 per quintal, with an open interest of 15,648 lots.

Marketmen attributed the fall in jeera futures to profit-booking after yesterday's gain amid reports of good rains in top producing state, Gujarat, which would help sowing in the season.

 

Jeera is a winter crop sown from October and farmers depend on rains to moisten the land for sowing.