Jeera futures extend losses, down 2.71 pc on adequate stocks

Jeera prices fell 2.71 per cent to Rs 14,520 per quintal in futures market today as speculators reduced their positions on the back of higher supplies from producing belts.
Besides, low demand in the spot market further fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in March tumbled Rs 405, or 2.71 per cent to Rs 14,520 per quintal with an open interest of 12,633 lots.
Likewise, the spice for delivery in April contracts plunged Rs 390, or 2.56 per cent to Rs 14,825 per quintal in 10,464 lots.
Analysts said offloading of positions by speculators, driven by a fall in demand in the spot market against adequate stocks position on higher supply from producing belts, kept pressure on jeera prices at futures trade.