Jeera falls 1.44% on profit-booking

Adequate stocks contribute to downtrend

Jeera prices fell by Rs 247.50 to Rs 16,945 per quintal in futures trade today due to profit-bookings at prevailing higher levels.

Recent gains in jeera prices encouraged farmers to increase supplies, which created adequate stocks position in the spot market.

At the National Commodity and Derivatives Exchange, jeera for delivery in September fell by Rs 247.50, or 1.44%, to Rs 16,945 per quintal, with an open interest of 18,852 lots.

The August contract lost Rs 235, or 1.40%, to Rs 16,505 per quintal in 12,546 lots.

Market analysts said besides the emergence of profit-bookings by speculators, increased supplies in the physical market kept pressure on jeera prices at futures trade.