Jeera futures down 0.89 pc on higher supply

Jeera futures traded lower by 0.89 per cent to Rs 10,530 per quintal today after participants trimmed positions amidst sluggish demand in the spot market.
Expectations of higher output following good rainfall in top producing Gujarat state and subdued overseas enquiries also put pressure on jeera prices.
At the National Commodity and Derivatives Exchange, jeera for delivery in September eased by Rs 95, or 0.89 per cent to Rs 10,530 per quintal with an open interest of 33 lots.
Similarly, the spices for delivery in October fell by Rs 40, or 0.37 per cent to Rs 10,720 per quintal in 5,625 lots.

Market analysts said the fall in jeera prices in futures trade was mostly due to supply pressure from producing belts against subdued domestic and overseas demand at spot market.