Jeera futures down 2.06 on higher sowing hopes

Jeera prices drifted by Rs 280 to Rs 13,340 per quintal in futures trading today after speculators indulged in trimming positions amid hopes of higher sowing due to improved rains in the top producing region. At the National Commodity and Derivatives Exchange,jeera for delivery in October drifted by Rs 280,or 2.06 per cent,to Rs 13,340 […]

Jeera prices drifted by Rs 280 to Rs 13,340 per quintal in futures trading today after speculators indulged in trimming positions amid hopes of higher sowing due to improved rains in the top producing region.

At the National Commodity and Derivatives Exchange,jeera for delivery in October drifted by Rs 280,or 2.06 per cent,to Rs 13,340 per quintal,with an open interest of 16,230 lots.

Likewise,the spice for delivery in November moved down by Rs 260,or 1.87 per cent,to Rs 13,650 per quintal,with an open interest of 12,891 lots.

Marketmen said the fall in jeera futures prices was mostly due to off-loading of positions by speculators after hopes of higher sowing on improved rains in the top producing state Gujarat.

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