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30-Oct2018

Jeera futures trade moderately higher on production concerns

Jeera futures traded moderately higher on NCDEX, on frantic buying by stockists and retailers on concerns over production in midst of prevailing high temperature. As per reports, lack of sufficient rains in some jeera growing regions in Gujarat and Rajasthan, two top producers, may impact the sowing that will begin by the end of the month. Moreover, firm overseas demand for Indian cumin also supported the up-trend.

The contract for November delivery was trading at Rs 19860.00, up by 0.51% or Rs 100.00 from its previous closing of Rs 19760.00. The open interest of the contract stood at 5097 lots.

The contract for December delivery was trading at Rs 20245.00, up by 0.60% or Rs 120.00 from its previous closing of Rs 20125.00. The open interest of the contract stood at 2730 lots on NCDEX.


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