Jeera futures declined on NCDEX, as traders initiated fresh selling on expectation of higher arrivals in the coming weeks due to bumper acreage during the season. Further, tepid demand for cumin from spot market also dragged the rates down.
The contract for March delivery was trading at Rs 14180.00, dropped by 1.49% or Rs 215.00 from its previous closing of Rs 14395.00. The open interest of the contract stood at 159 lots.
The contract for April delivery was trading at Rs 14400.00, down by 1.34% or Rs 195.00 from its previous closing of Rs 14595.00. The open interest of the contract stood at 8883 lots on NCDEX.