Jeera down 1.2% on sluggish demand

Speculators offloaded positions pulling prices down

Jeera prices moved down by Rs 187.50 to Rs 14,880 per quintal in futures trade today as speculators offloaded positions on the back of sluggish demand in the spot market.

At the National Commodity and Derivatives Exchange, jeera for delivery in September fell by Rs 187.50, or 1.24%, to Rs 14,880 per quintal, with an open interest of 18,771 lots.

The October lost Rs 180, or 1.16%, to Rs 15,290 per quintal, with an open interest of 16,107 lots.

Marketmen attributed the fall in jeera futures to sluggish demand in the spot market.