Jeera futures decline 1.22% on profit-booking

NEW DELHI: Jeera futures prices today fell by 1.22 per cent to Rs 14,340 per quintal as speculators reduced their exposures, triggered by higher area under cultivation and favourable weather conditions at growing regions.

At the National Commodity and Derivatives Exchange, jeera for delivery in March month declined by Rs 177.50, or 1.22 per cent to Rs 14,340 per quintal with an open interest of 13,344 lots.

Likewise, the spice for delivery in April contract traded lower by Rs 175, or 1.20 per cent to Rs 14,400 per quintal in 4,065 lots.

Analysts said higher area under cultivation and conducive weather conditions at growing regions mainly weighed on the jeera prices at futures trade.

Meanwhile, jeera is a winter crop for which sowing starts from October.