Jeera recovers in futures trade

PTI New Delhi | Updated on February 17, 2011

Market analysts said bargain buying by speculators helped jeera futures to trade higher but poor export demand, limited the gains. PHOTO P.V. Sivakumar   -  Business Line

Jeera prices recovered by 0.18 per cent in futures trade on Wednesday as speculators enlarged their positions on depleting stocks but poor export demand capped the gains.

At the National Commodity and Derivatives Exchange, jeera for March delivery rose Rs 28, or 0.18 per cent, to Rs 15,920 a quintal, with an open interest of 15,375 lots.

Similarly, the spice for delivery in April gained Rs 20, or 0.12 per cent, to Rs 16,341 a quintal, with a business volume of 12,312 lots.

Market analysts said speculative positions created by traders following depleting stocks mainly influenced the jeera futures prices but weak export demand, restricted the gains.

Published on February 16, 2011

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