Jeera futures down 1.26% on low spot demand

Jeera prices were down by 1.26 per cent to Rs 16,395 per quintal in futures trade today as speculators cut down their bets, driven by easing demand in the spot market.
Besides, adequate stocks position on higher supplies from growing regions put pressure on jeera prices.
At the National Commodity and Derivatives Exchange, jeera for delivery in June month fell by Rs 210, or 1.26 per cent to Rs 16,395 per quintal with an open interest of 16,989 lots.
Likewise, the spice for delivery in July contracts traded lower by Rs 210, or 1.25 per cent to Rs 16,555 per quintal in 4,365 lots.

Analysts said offloading of positions by participants on the back of sluggish demand in the spot market against ample stocks on higher supplies from growing belts, mainly led to the fall in jeera prices at futures trade.