Jeera prices dropped on weak buying support due to good rainfall in producing areas, while futures decreased on the back of profit booking by market participants.

Jeera quoted lower by Rs 15-20 for 20 kg at Unjha market of Gujarat on Thursday with medium quality quoting at Rs 2,340-2,440. NCDEX quality raw ruled at Rs 2,660-2,780 in Unjha market.

At Rajkot, jeera was traded at Rs 2,400-2,675 and about 400 bags arrived at APMC.

On the National Commodity and Derivatives Exchange (NCDEX), October contracts declined by Rs 100 to Rs 13,830 a quintal with an open interest of 23,181 lots.

NCDEX jeera for November delivery was traded down by Rs 112.50 to Rs 14,130/100 kg, with an open interest of 9,063 lots.

According to commodity experts, fresh selling was seen in futures at higher levels. Total jeera exports are estimated at 45,000 tonnes due to lower prices and waning supplies in the other nations.

India has exported almost 33,500 tonnes this year ( 75% of the targeted exports).

(This article was published on September 13, 2012)
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