Jeera prices correct sharply ahead of sowing on liquidation of position

The government's production estimates though are much higher on jeera than what traders and market experts said

Jeera prices, which had touched record highs of around Rs 65,900 per quintal around September on the National Commodity and Derivatives Exchange, have crashed to their six-month low of around Rs 39,630 earlier this month before stabilising at around Rs 45,000 in the past few days.

This is due to the liquidation of positions by traders and easing speculative activities.

The slump in prices, just weeks ahead of the new crop sowing, can affect farmer sentiment.

Sowing has been delayed this year due to higher than normal temperatures in major growing regions and also the escalated cost of major inputs.