Jeera futures slumped on NCDEX, as speculators narrowed their positions on profit-taking at current levels amid weak domestic and exports demand at the spot market. Besides, higher production anticipations this season on reports of higher acreage of cumin in Gujarat against piling of stocks in the warehouse also fuelled the downtrend.
The contract for March delivery was trading at Rs 15290.00, declined by 1.51% or Rs 235.00 from its previous closing of Rs 15525.00. The open interest of the contract stood at 10536 lots.
The contract for April delivery was trading at Rs 15590.00, dipped 0.64% or Rs 100.00 from its previous closing of Rs 15690.00. The open interest of the contract stood at 2280 lots on NCDEX.