Jeera declines over 1 pc in futures trade on ample supply

Jeera prices moved down by 1.07 per cent to Rs 11,055 per quintal in futures trading today as speculators reduced positions amidst increased supplies from producing regions against weak demand.
At the National Commodity and Derivatives Exchange, jeera for delivery in August declined by Rs 120, or 1.07 per cent to Rs 11,055 per quintal with an open interest of 693 lots.
Similarly, the spice for delivery in September traded lower by Rs 105, or 0.91 per cent to Rs 11,265 per quintal in 7626 lots.
Analysts attributed the fall in jeera futures to offloading of positions by speculators, driven by adequate stocks position in the spot market against subdued demand.