Jeera futures traded higher on NCDEX as farmers and stockists were holding stocks in expectations of higher prices in coming months. Further, there is expectation that all-India Jeera production will decline in the Marketing year 2022-23 by around 33% to 3 lakh tonnes on y-o-y basis due to lower sowings.
The contract for September delivery was trading at Rs 24510 up by 0.35% or Rs 85.00 from its previous closing of Rs 24425.00. The open interest of the contract stood at 4,137 lots.
The contract for October delivery was trading at Rs 24910, up by 0.32% or Rs 80.00 from its previous closing of Rs 24830.00. The open interest of the contract stood at 6,180 lots on NCDEX.