MUMBAI (Commodity Online): Jeera futures fell Thursday on higher production concerns from the next crop amid subdued spot demand.
In NCDEX jeera February contract is trading at Rs.14245 per quintal, down by 1.45 per cent on 13:30 IST against the previous close.
In the morning session the contract traded at a range of Rs.14173-14539 per quintal. Open interest of the contract so far is 11184 lots and volume traded is 5079 lots for the time being.
Conducive weather for Jeera in the chief growing areas (Gujarat and Rajasthan) and thereby expectation of better output and yield led prices to trade lower.
According to Gujarat farm ministry, area sown under jeera till January,18th 2012 stood at 3.682 lakh hectares (lh) up 50% as compared to last year while area covered in Rajasthan till date is expected to be 3.03 lakh hectares as compared to 3.30 lakh hectares in the same period last year.
