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Jeera futures edge lower on increased supply

11 Mar 2014 Evaluate

Jeera futures edged lower on NCDEX as speculators offloaded positions, triggered by increased arrivals from producing regions and expectations of higher production reports, mainly pulled down jeera prices at futures trade. However, bargain buying by stockists at lower levels has restricted the downside in the prices of the spice.

The contract for March delivery was trading at Rs 10540.00, down by 0.28% or Rs 30.00 from its previous closing of Rs 10570.00. The open interest of the contract stood at 2007.00 lots.

The contract for April delivery was trading at Rs 10570.00, down by 0.47% or Rs 50.00 from its previous closing of Rs 10620.00. The open interest of the contract stood at 9387.00 lots on NCDEX.

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