NCDEX Jeera futures plunged today as profit selling hurt the counter after recent surge. The Jeera futures for March jumped from near Rs 18000 per quintal to around Rs 21000 per quintal over last two weeks as reports of drop in area and good domestic demand boosted sentiments. The area under Jeera in leading producing state of Gujarat is just 3.07 lakh hectare as against 4.69 lakh hectare last year, indicating that the output will be adversely hurt. However, fresh buying has been absent in the futures this week amid elevated prices and the counter eased today after hitting Rs 21200 per quintal mark. The futures currently trade at Rs 20645 per quintal, down 1.20% on the day.
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