MUMBAI (Commodity Online): Jeera futures continued to trade down on Friday for the second straight session due the higher arrivals and the subdued demand from the overseas market.

NCDEX jeera March contract quoted at Rs 11,201 quintal, down Rs 93 and traded in the range of Rs 11,260- 11,190 a quintal. April contract moved down Rs 91 at Rs 11,608 a quintal. Volumes in the March and April contracts totaled 402 and 2,439 tons respectively.

As per expectations, Jeera futures maintained its downtrend during Yesterday’s trading session weighed by the factor of increased pace of fresh arrivals to the physical market. Weak export demand amid expectations of higher crop production for 2010 are also supporting the fall in prices.

Trade commodities or equities from across the globe. Join Now

The most active NCDEX April contract Jeera futures upon a lower opening at 12026 levels, made an intraday high at 12050 levels, lower than the previous session’s high of 12249 levels. It made an intraday low at 11654 levels and settled the day at 11699 levels, with a negative change of 3.13%.

Jeera futures are expected to maintain its downtrend for the day supported by the fundamental factors of increased pace of fresh arrivals and weak export demand.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook