Jeera prices dropped by 2.81 per cent to Rs 17,120 per quintal in futures trade today as participants trimmed their positions amid a weak trend at the domestic spot markets due to muted exports demand. At the National Commodity and Derivatives Exchange, jeera for delivery in far-month June plunged by Rs 495, or 2.81 per cent to Rs 17,120 per quintal with an open interest of 17,250 lots. On similar lines, the spice for delivery in May contracts lost Rs 475, or 2.73 per cent to Rs 16,910 per quintal in 9,132 lots. Analysts said offloading of positions by traders, triggered by subdued exports demand in the spot market against adequate stocks position kept pressure on jeera prices at futures trade.
Jeera futures down 2.81% on weak exports demand
Press Trust of India |