Jeera futures remain weak on higher supply, down 2.19%

Jeera prices further drifted lower by 2.19 per cent to Rs 18,325 per quintal in futures trading today as participants engaged in reducing 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 July plunged by Rs 410, or 2.19 per cent, to Rs 18,325 per quintal, with an open interest of 219 lots.
Similarly, the spice for delivery in August moved down by Rs 315, or 1.65 per cent, to Rs 18,775 per quintal in 21,000 lots.
Analysts said trimming of positions by participants due to adequate stocks position on higher supplies from producing regions in the physical market against muted demand kept jeera prices lower at futures trade.