Jeera futures under pressure on weak spot demand

Jeera prices fell by Rs 454 to Rs 13,725 per quintal in futures trade today as speculators preferred to book profits amid a weakening spot market trend.

At the National Commodity and Derivatives Exchange, January jeera tumbled by Rs 454, or 3.20%, to Rs 13,725 per quintal, with an open interest of 4,566 lots.

The November contract fell by Rs 417, or 3.09%, to Rs 13,065 per quintal, with a trade volume of 10,482 lots.

Jeera for December delivery declined by Rs 413, or 2.99%, to Rs 13,397 per quintal, with an open interest of 15,771 lots.

Marketmen said speculators indulged in booking profits at higher levels amid a weakening spot market trend and reports of increased arrivals from producing region.