Jeera futures remain weak, down 0.70% on adequate stocks

Extending yesterday's losses, jeera prices drifted further by 0.70 per cent to Rs 13,535 per quintal in futures market today as traders engaged in trimming their positions, triggered by ample stocks on higher supplies from producing regions at spot market.
At the National Commodity and Derivatives Exchange, jeera for delivery in January fell by Rs 95, or 0.70 per cent, to Rs 13,535 per quintal, with an open interest of 384 lots.
On similar lines, the spice for delivery in far-month March declined by Rs 75, or 0.54 per cent, to Rs 13,770 per quintal in 7,716 lots.
Market analysts said cutting down of positions by participants amid easing demand in the spot market against adequate stocks on higher supplies from producing regions, kept pressure on jeera prices at futures trade.