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Jeera futures fall 1.55% on profit-booking

Jeera futures fall 1.55% on profit-booking
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Jeera prices fell 1.55 per cent to Rs 16,140 per quintal in futures trade today as speculators trimmed positions to book profits at prevailing levels amid lower domestic and export demand at the spot market.Furthermore, ample stocks position following higher supplies from the producing belts too fuelled the downtrend.

NEW DELHI: Jeera prices fell 1.55 per cent to Rs 16,140 per quintal in futures trade today as speculators trimmed positions to book profits at prevailing levels amid lower domestic and export demand at the spot market.Furthermore, ample stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in April contracts fell Rs 255, or 1.55 per cent, to trade at Rs 16,140 per quintal, with an open interest of 1,950 lots.Similarly, the spice for delivery in March contracts fell Rs 235, or 1.46 per cent, to trade at Rs 15,860 per quintal in 10,560 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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