Jeera falls 0.35% on hopes of better sowing

Subdued overseas demand influences prices

Jeera prices fell by 0.35% to Rs 14,375 per quintal in futures market today after speculators trimmed positions, tracking a weak trend in the spot markets on higher supplies and subdued overseas demand.

Pick up in sowing operations put pressure on the spice's futures prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in November softened by Rs 50, or 0.35%, to Rs 14,375 per quintal, with an open interest of 11,784 lots.

December jeera declined by Rs 32.50, or 0.22%, to Rs 14,822.50 per quintal, with an open interest of 13,872 lots.

Marketmen said offloading of positions by speculators due to a weak trend at the spot markets on higher supplies and weak export demand led to the fall in jeera prices at futures trade here.