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Jeera futures remain weak, shed 1.39% on subdued demand

Press Trust of India  |  New Delhi 

Falling for the second day, jeera prices fell further by 1.39 per cent to Rs 17,800 per quintal in futures trade today as speculators engaged in reducing their positions amid tepid demand in the spot market.

Besides, sufficient stocks position on increased supplies from the major growing regions in and fuelled the downtrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in May drifted lower by Rs 250, or 1.39 per cent to Rs 17,800 per quintal with an open interest of 210 lots.

Analysts said offloading of positions by participants due to subdued demand in the spot market against adequate stocks position on increased arrivals from producing belts, mainly kept jeera prices down at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 16 2017. 11:57 IST