Jeera futures slide 1.10 pc on subdued spot demand

Jeera futures today fell 1.10 per cent to Rs 14,785 per quintal as speculators trimmed positions amidst sluggish demand in the spot market.
Besides, adequate stocks position in the physical market on increased supplies from producing regions and expectations of higher production reports put pressure on jeera prices.
At the National Commodity and Derivatives Exchange, jeera for delivery in January month dropped by Rs 165, or 1.10 per cent to Rs 14,785 per quintal with an open interest of 1,695 lots.
Similarly the spice for delivery in February contract declined by Rs 135, or 0.88 per cent to Rs 15,145 per quintal in 13,806 lots.

Analysts said offloading of positions by speculators on due to subdued demand in the spot market mainly pulled down jeera prices at futures trade.