Jeera remains weak on higher supply, sheds 1.5%
Speculators pare positions, as higher supplies from producing belts add to downward pressure on prices
 "Jeera remains weak on higher supply, sheds 1.5%")
Jeera prices fell further by 1.47 per cent to Rs 17,795 per quintal in futures trading today as speculators reduced their positions, triggered by higher supplies from producing belts.
Besides, subdued domestic and exports demand fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in May month moved down by Rs 265 or 1.47 per cent to Rs 17,795 per quintal with an open interest of 19,416 lots.
Analysts said besides higher supplies from producing regions, sluggish domestic and exports demand in the spot market mainly kept pressure on jeera prices at futures trade.
Besides, subdued domestic and exports demand fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in May month moved down by Rs 265 or 1.47 per cent to Rs 17,795 per quintal with an open interest of 19,416 lots.
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The June contract lost Rs 260 or 1.41 per cent to Rs 18,150 per quintal in 8973 lots.
Analysts said besides higher supplies from producing regions, sluggish domestic and exports demand in the spot market mainly kept pressure on jeera prices at futures trade.