NCDEX Jeera futures fell near five week low amid sustained selling pressure as traders continued to book profits in the counter. The benchmark NCDEX futures had gained sharply in first week of November, hitting a contract high above Rs 21500 per quintal but have been in a corrective mode thereafter.

The futures fell under Rs 20000 per quintal levels and witnessed a sharp slide in early trading hours today. However, amid heavy volatility, some buying emerged in the counter and the futures currently trade at Rs 19830 per quintal, down 1% on the day. Jeera supplies have been holding up in the benchmark mandi at Unjha, averaging around 10000 bags per day after Diwali.

Supplies improved in response to the rising prices though the overall trend in arrivals is expected to be rather weak in coming days given the seasonal patterns. Spot Jeera soared near Rs 20500 per quintal this week - hitting its highest mark in nearly ten months before some moderation set in.

Prices are holding up above Rs 20000 per quintal levels but selling pressure in futures is bound to take an effect on sentiments.

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