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Jeera futures succumb to profit booking

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 5:24 AM IST

Jeera futures prices fell by Rs 50, or 0.39 per cent, to Rs 12,750 per quintal today, as speculators indulged in booking profits at existing higher levels.

Weak export demand and reports of rise in acreage in the upcoming sowing season, further fuelled the selling pressure.

At the National Commodity and Derivatives Exchange counter, jeera for delivery in October fell by Rs 50, or 0.39 per cent, to Rs 12,750 per quintal, with an open interest of 3,195 lots.

Likewise, the spice for delivery in November traded lower by Rs 41, or 0.32 per cent, to Rs 12,961 per quintal, with an open interest of 12,816 lots.

Analysts said profit booking by speculators after gains in the previous session, mainly led to a decline in jeera futures prices.

They said a fall in demand among exporters and reports of higher sowing in this season also influenced the market sentiment to some extent.

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First Published: Oct 18 2010 | 6:18 PM IST

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