Jeera down 0.9% on sluggish demand, adequate supply

Spice for delivery in December shed 0.5%

Jeera prices slid by 0.92% to Rs 12,865 per quintal in futures trade today as speculators reduced their positions, tracking weak spot market trend on sluggish demand against adequate supplies.

Expectations of a better crop due to favourable weather also influenced jeera prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in March slid by Rs 120, or 0.92%, to Rs 12,865 per quintal with an open interest of 3,120 lots.

Similarly, the spice for delivery in December shed Rs 67.50, or 0.54%, to Rs 12,467.50 per quintal in 7,308 lots.

Analysts attributed the fall in jeera futures to speculators reducing their positions, tracking a weak trend at spot market on sluggish demand against adequate supplies.