| Date: |
17-11-2011 |
| Subject: |
NCDEX Jeera Settles Lower on Weak Export Demand |
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MUMBAI (Commodity Online): Jeera futures ended lower on Wednesday on profit booking by the traders on the back of weak demand from the domestic as well as overseas buyers.
Higher sowing from the producing regions also put pressure on jeera futures.Sowing of jeera in Rajasthan has gained momentum due to favorable weather condition. Sowing of Jeera has also commenced in some parts of Gujarat but it is on slow pace.
At NCDEX jeera November contract closed at Rs.13670 per quintal, a decline of 0.94 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.13576-13973 per quintal. Open interest of the contract is 16227 lots and volume traded is 6789 lots for the time being.
According to Spices Board of India, exports of Jeera during April 2011- September 2011 stood at 16,000 tonnes as compared to 18,800 tonnes in 2010-11, decline of 15%.
Source : commodityonline.com
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