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Feb 24 2007 11:13AM
Jeera contracts spurt on reports of bad weather
Mumbai, Feb 24 - Jeera [cumin seed] prices spurt at NCDEX counters on last trade day of week after seeing down rally yesterday. As per traders, lead jeera producers Rajasthan and Gujarat have received yet another spell of medium to heavy showers last night. The standing crop in these states is feared to get further damages. In the futures trade, NCDEX jeera receives higher quotes today on the back of increased buying. March contract starting today at Rs.11,080 per quintal moved Rs.265.60 per quintal later on over the last close to Rs.11,248 per quintal. It was moving earlier in range of Rs.11,080-11,295 per quintal. In this contract, trade volume and open interests stood to 6,951 and 12,561 tonnes in early part of trade. May spurt Rs.261.40 over previous close was quoted at Rs.11,560 per quintal. While, May was up Rs.235 to get in trade at Rs.11,853 per quintal after opening at Rs.11,670 per quintal.Cash market Unjha in Gujarat however noticed stable price today. NCDEX jeera was asked at Rs.10,900-11,000 per quintal level and average quality was offered at Rs.9,500-9,700 per quintal range. Arrival here got reported to around 12-13 - thousand bags out of which 10-thousand bags were of fresh and the rest came from stock. The market expected to see a revival in trade volume to around 15-16 -thousand bags today.One bag = 55 kg [ Farmer's delivery]; One bag = 60 kg [NCDEX/MCX delivery].
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