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18-Apr2011

Jeera Futures Plunge On Strong Arrivals

Jeera futures have plunged due to strong arrivals in major mandies. In the spot market, the total daily arrivals of around 27,000-30,000 bags of jeera were reported in Unjha mandi. This was mainly due to strong supplies from both Gujarat and Rajasthan. Moreover, waning export demand also reduced the strength of jeera at higher levels.

The contract for April delivery was trading at Rs 14,669.00, down by 2.13% or Rs 320.00 from its previous closing of Rs 1,49,89.00. The open interest of the contract stood at 3846 lots.

The contract for May delivery was trading at Rs 15,217.00, down by 2.10% or Rs 327.00 from its previous closing of Rs 1,55,44.00. The open interest of the contract stood at 20,010 lots on NCDEX.

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