Jeera futures decline by 0.49% on profit taking

Jeera futures traded Rs 64 or 0.49 per cent lower at Rs 12,980 per quintal today, as speculators offloaded their positions at existing higher levels.

Subdued trend at spot markets, increased arrivals and fall in demand also put pressure on the jeera prices in futures trade.

At the National Commodity and Derivatives Exchange counter, jeera for August-month contract fell by Rs 64, or 0.49 per cent to Rs 12,980 per quintal, with an open interest of 1,695 lots.

The spice for delivery in July also shed Rs 9, or 0.07 per cent to Rs 12,689 per quintal, clocking of 9,006 lots.

Market analysts said emergence of profit booking by speculators at prevailing higher levels and weak trend at the physical market led to a fall in jeera futures prices.