Jeera prices declined by 2.16 per cent to close at Rs 14,280 per quintal in futures trade today as traders initiated fresh selling on expectation of higher arrivals in the coming weeks due to bumper acreage during the season.
Improved arrivals from major producing belts amid tepid demand at the spot market also dragged the rates down.
At the National Commodity and Derivatives Exchange, jeera for delivery in April month fell by Rs 315, or 2.16 per cent, to close at Rs 14,280 per quintal with an open interest of 8,820 lots.
On similar lines, the spice for delivery in the current month contract traded lower by Rs 305, or 2.12 per cent, to Rs 14,090 per quintal in 231 lots.
Analysts said trimming of positions by participants amid subdued demand at the spot market, mainly led to the fall in jeera prices in futures trade.
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