Jeera futures fall 0.80% on profit booking

Jeera prices moved down by 0.80 per cent to Rs 17,295 per quintal in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in the spot market.
However, expectations of lower production due to unseasonal rains in major producing belts of Gujarat and Rajasthan, restricted the fall.
At the National Commodity and Derivatives Exchange, jeera for delivery in April month declined by Rs 140, or 0.80 per cent, to Rs 17,295 per quintal with an open interest of 486 lots.
In a similar fashion, the spice for delivery in May contracts traded lower by Rs 85, or 0.48 per cent, to Rs 17,515 per quintal in 19,404 lots.

Analysts said besides profit-booking by speculators, fall in demand in the spot market against adequate stocks position, mainly pulled down jeera prices at futures trade.