Jeera futures fall about 1 per cent on low demand

Jeera prices were down by 0.99 per cent to Rs 11,985 per quintal in futures trade today as speculators offloaded positions at existing higher levels amid lower demand in spot market.
Besides, adequate stocks position in the physical market on higher supplies from producing belts also put pressure on jeera prices.
At the National Commodity and Derivatives Exchange, jeera for delivery in December month fell by Rs 120, or 0.99 per cent, to Rs 11,985 per quintal with an open interest of 6,567 lots.
In a similar fashion, the spice for delivery in January contract declined by Rs 120, or 0.98 per cent, to Rs 12,165 per quintal on 3,366 lots.

Analysts attributed the fall in jeera futures to offloading of positions by speculators on the back of sluggish demand in the spot market as stocks position was adequate.