Business Standard

Jeera futures fall 2% on profit-booking

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Press Trust of India New Delhi
Jeera prices fell Rs 305 to trade at a two-year low of Rs 14,995 per quintal in futures market today as speculators engaged in trimming positions to book profits at prevailing levels amid muted domestic and exports demand.

Furthermore, ample stocks position following higher arrivals in Gujarat, fuelled the downtrend.

At the National Commodity and Derivatives Exchange, jeera for March contract fell Rs 305, or 2 per cent, to trade at two years low of Rs 14,995 per quintal with an open interest of 9,240 lots.

Similarly, the spice for delivery in the far-month April contract moved down by Rs 295, or 1.90 per cent, to Rs 15,210 per quintal in 3,465 lots.

Analysts said besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position, kept pressure on jeera futures.

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First Published: Feb 26 2018 | 1:45 PM IST

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