MUMBAI (Commodity Online): Jeera futures declined Monday on subdued demand in the domestic markets amid higher production concerns in 2012.
In NCDEX jeera March contract is trading at Rs.14426 per quintal, down by 1.16 per cent on 16:40 IST against the previous close.
In the morning session the contract traded at a range of Rs.14305-14650 per quintal. Open interest of the contract is 12096 lots and volume traded is 5250 lots for the time being.
Production of Jeera in 2011-12 is expected to be around 35 lakh bags as compared to 29 lakh bags in 2010-11. (Each bag weighs 55 kgs).
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%.
