Jeera futures decline by 1.03% on muted demand

Jeera prices moved down by 1.03 per cent to Rs 13,990 per quintal in futures trade today as speculators lightened their positions, tracking a weak trend at the spot market on low domestic and exports demand.
In addition, higher sowing following favourable weather in the producing belts too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in far-month March fell by Rs 145 or 1.03 per cent to Rs 13,990 per quintal with an open interest of 6,807 lots.
Similarly, the spice for delivery in January contracts traded lower by Rs 30 or 0.22 per cent to Rs 13,670 per quintal in 2,322 lots.

Market said offloading of positions by participants, driven by subdued domestic and exports demand in the spot market led to the fall in jeera prices at the futures trade.