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Jeera futures down on profit-booking

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SummaryJeera prices fell by Rs 42.50 to Rs 14,070 per quintal in futures trading today after traders preferred to book profits after yesterday's gains.

Jeera prices fell by Rs 42.50 to Rs 14,070 per quintal in futures trading today after traders preferred to book profits after yesterday's gains.

However, a slow progress of sowing in Gujarat as low monsoon rains in some parts of the state, pushed back sowing operations, limited the fall in prices.

At the National Commodity and Derivativ s Exchange, jeera for delivery in December fell by Rs 42.50, or 0.30 per cent, to Rs 14,070 per quintal, with an open interest of 5,976 lots.

Similarly, the spice for delivery in March traded lower by Rs 35, or 0.23 per cent, to Rs 15,032.50 per quintal, with an open interest of 12,327 lots.

Analysts said profit-taking by speculators mainly led to a decline in jeera prices at futures trade but reports of slow progress of sowing operations in some parts of Gujarat, restricted the fall in prices.

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