Jeera sheds more than 2% down on rising arrivals

Jeera prices fell by 2.68% to Rs 13,075 a quintal in futures trade today on speculators offloading their positions following weak export demand.

Rising arrivals from producing belt also put pressure on jeera prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in May fell by Rs 360, or 2.68%, to Rs 13,075 per quintal, with an open interest of 1,248 lots.

The June contract moved down by Rs 280, or 2.02%, to Rs 13,595 per quintal, with an open interest of 19,026 lots.

Market analysts said speculators offloaded their positions on the back of weak export demand, which pulled down jeera prices at futures trade.

They said rising arrivals from producing belt also kept pressure on jeera.