MUMBAI (Commodity Online): Jeera futures declines Friday on profit selling by the traders on the back of higher production concerns in 2012.
In NCDEX jeera February contract is trading at Rs.14675 per quintal, down by 0.61 per cent on 11:30 IST against the previous close.
In the morning session the contract traded at a range of Rs.14618-14866 per quintal. Open interest of the contract is 10116 lots and volume traded is 2040 lots for the time being.
Favourable weather for Jeera in the chief growing areas (Gujarat and Rajasthan) and thereby expectation of better output and yield led prices to remained weak.
According to Spices Board of India, exports of Jeera during April 2011-November 2011 stood at 26,500 tonnes as compared to 20,750 tonnes in 2010-11, an increase of 27.7%.
