Mumbai (Commodities Control) – Jeera Futures dipped to fresh two year lows on weakness in spot prices. The anticipation of higher output is weighing upon the spice. In spot, jeera has lost Rs 25-100/20Kgs.
Gujarat’s Unjha mandi reported negligible trade, while sellers were active in Rajkot mandi. Europe variety dipped Rs 100 to trade at Rs 2750-2775/20Kgs, while Singapore variety lost Rs 25. Other varieties were quoted Rs 75/20Kgs lower.
According to the traders, market estimates a bigger produce of jeera this year. This is keeping the big traders on the sidelines.
NCDEX active contract dipped Rs 155 or 1.08% to settle at Rs 14200/quintal. The contract marked its day’s low at Rs 14180 which happens to be a 2 year low.
(Commodities Control Bureau)