Jeera futures decline on better sowing hopes

Jeera prices fell by 0.58 per cent to Rs 15,355 per quintal in futures market.

Written by Agencies | New Delhi | Published: October 16, 2012 11:57 am

Jeera prices fell by 0.58 per cent to Rs 15,355 per quintal in futures market today after speculators trimmed positions amid hopes of better sowing.

Sluggish demand in the spot market also put pressure on the spice prices at futures trade.

At the National Commodity and Derivatives Exchange,jeera for delivery in November softened by Rs 90,or 0.58 per cent,to Rs 15,355 per quintal,with an open interest of 15,999 lots.

Similarly,the spice for delivery in October declined by Rs 75,or 0.49 per cent,to Rs 15,155 per quintal in 399 lots.

Marketmen said trimming of positions by speculators on expectations of better sowing due to a revival in rains later in the season,mainly led to the fall in jeera futures prices.

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