Jeera falls 1.82% on increased supplies

Jeera futures fell by Rs 240 to Rs 12,970 per quintal today as speculators offloaded their positions following increased supplies in the physical market against subdued demand.

Expectations of higher output this year also put pressure on jeera prices.

At the National Commodity and Derivatives Exchange, the April jeera fell by Rs 240, or 1.82%, to Rs 12,970 per quintal with an open interest of 18,780 lots.

The March spice lost Rs 225, or 1.76%, to Rs 12,530 per quintal in 1,332 lots.

Analysts said offloading of positions by speculators due to sluggish demand in the spot market and reports of a higher output this year also kept pressure on jeera futures prices.