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Jeera extend gains on lower sowing, dwindling stocks

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Press Trust of India New Delhi

Jeera futures traded 0.40 per cent higher at Rs 14,220 per quintal today, as speculators engaged in creating huge positions, driven by lower sowing in Gujarat.

However, weak exports limited the upside.

At the National Commodity and Derivatives Exchange counter, jeera for February delivery gained Rs 57, or 0.40 per cent, to Rs 14,220 per quintal, with an open interest of 12,975 lots.

The spice for delivery in January rose by Rs 24, or 0.17 per cent, to Rs 13,960 per quintal in 11,721 lots.

Market analysts said delayed sowing due to unseasonal rains in Gujarat and dwindling stocks due to restricted supplies, pushed up jeera prices at futures trade here.

 

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First Published: Dec 24 2010 | 2:54 PM IST

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