NCDEX JEERA TIPS 01 JUN 2012

JEERA FUTURES PLUNGE ON ACCOUNT OF PROFIT BOOKING

DATE: 01/06/2012       

                 Jeera futures plunged on account of profit booking by local traders’ tracing the weak demand of the commodity in overseas market. Further, higher production reports of Turmeric also undermined the price of the commodity. As mentioned in some reports, production of Jeera in 2011-12 is expected to be around 40 lakh bags as compared to 29 lakh bags in 2010-11.

The contract for July delivery was trading at Rs 12,902.50, down by 0.86% or Rs 112.50 from its previous closing of Rs 13,015.00. The open interest of the contract stood at 9084 lots on NCDEX.

The contract for July delivery was trading at Rs 13,295.00, down by 0.84% or Rs 112.50 from its previous closing of Rs 13,407.50. The open interest of the contract stood at 15927 lots on NCDEX.

                                                                                 

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