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Jeera spot and futures prices dropped on Thursday as traders booked profit.
On the National Commodity and Derivative Exchange (NCDEX), jeera for February delivery fell Rs 89 or 0.59 per cent to Rs 1,4945 a quintal, with an open interest of 13,986 lots. Similarly, March contract declined by Rs 105 to Rs 15,280 with an open interest of 13,470 lots. Jeera was traded at Rs 2,222-2,845 a 20 kg at Unjha APMC.
According to market sources, jeera traded lower as speculators booked profits at existing higher levels amid subdued spot market demand.
Analysts said beside profit bookings by speculators at prevailing higher levels, subdued demand in the spot market helped jeera futures prices to trade lower.
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