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20-Apr2011

Jeera Futures Edge Lower On Profit Booking

Jeera futures edged lower in trade as speculators booked profit at higher levels. As per reports, higher acreage is expected in Gujarat and Rajasthan due to good moisture content in the soil. As per State Farm Dept, Gujarat, as on January 10, the acreage stood higher at 244,600 ha vs 242,700 ha last year. However, traders expect trading activities to rise significantly in coming weeks as the arrivals are likely to shoot up and possibilities of exports too picking up.

The contract for April delivery was trading at Rs 14,630.00, declined by 1.48% or Rs 220.00 from its previous closing of Rs 14,850.00. The open interest of the contract stood at 1287 lots.

The contract for May delivery was trading at Rs 15,247.00, slid by 1.25% or Rs 193.00 from its previous closing of Rs 15,440. The open interest of the contract stood at 18720 lots on NCDEX.

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