JEERA FUTURES SUCCUMB TO PROFIT BOOKING
Date: 11/04/2012
Jeera futures edged lower on the back of higher arrivals from the producing regions along with poor spot demand of the commodity, which weighed heavily on the sentiment. Further, reports stating higher production prospects of Jeera also encouraged speculators to go short on their position. Production of Jeera this season is expected to touch 35 lakh bags according to the spot market sources as compared to 29 lakh bags in 2011.
The contract for April delivery was trading at Rs 11,715.00, down by 0.32% or Rs 37.50 from its previous closing of Rs 11,752.50. The open interest of the contract stood at 10371 lots.
The contract for May delivery was trading at Rs 12,000.00, down by 0.52% or Rs 62.50 from its previous closing of Rs 12,062.50. The open interest of the contract stood at 13584 lots on NCDEX.
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