Jeera succumbs to profit-booking

Strong demand from overseas buyers, improved domestic demand for festive season limit losses

New Delhi, Jul 23 (PTI) Amid profit-booking by speculators after recent hefty gains, jeera futures traded 1.75% lower at Rs 16,270 per quintal today.

However, strong demand from overseas buyers and improved domestic demand for the festive season limited the losses.

At the National Commodity and Derivatives Exchange, the September contract for jeera fell by Rs 290, or 1.75%, to Rs 16,270 per quintal, with an open interest of 14,619 lots.

The August cntract traded lower by Rs 270, or 1.67%, to Rs 15,900 per quintal, with an open interest of 17,406 lots.

According to analysts, today's fall in jeera prices at futures trade was due to profit-booking by speculators at prevailing higher levels but strong export demand and festive season enquiries from domestic markets, restricted the losses.