Jeera extend losses on increased arrivals, subdued demand

Jeera prices fell by Rs 154, or 1.05 per cent, to Rs 14,530 per 100 kg in futures trade today, as speculators offloaded their positions, driven by increased arrivals in the spot markets.

At the National Commodity and Derivatives Exchange, jeera for August contract fell Rs 154, or 1.05 per cent, to Rs 14,530 per 100 kg, with an open interest of 10,520 lots.

The spice for delivery in September traded lower by Rs 146, or 0.98 per cent, to Rs 14,775 per quintal, with an open interest of 15,645 lots.

At Unjha, the benchmark spot market in Gujarat, jeera dropped Rs 47 to Rs 14,625 per 100 kg. Analysts said increased arrivals in the spot markets, against subdued spot demand pulled down jeera prices at futures market here.

Meanwhile, jeera exports in April-June 2010 fell 20 per cent to 10,750 tonnes from the same period a year ago.