JEERA FUTURES GAIN MOMENTUM ON DWINDLING ARRIVAL
DATE: 17/04/2012
Jeera futures picked up on the back of decline in arrivals from the producing regions amid rising spot demand. Rates having fallen a lot over last few weeks, traders expect a likely rise in demand in coming weeks to support the prices of the commodity. However, even exporters are reportedly waiting for the new crop for creating fresh demand in the mandis.
The contract for April delivery was trading at Rs 11,710.00, up by 1.19% or Rs 137.50 from its previous closing of Rs 11,572.50. The open interest of the contract stood at 3492 lots.
The contract for May delivery was trading at Rs 12,060.00, up by 0.75% or Rs 90.00 from its previous closing of Rs 11,970.00. The open interest of the contract stood at 16677 lots on NCDEX.
POWERED BY: commodity insights
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