Jeera futures down 1.5% on higher output hopes

Speculators trim positions as sluggish demand in spot market fuels downtrend

Jeera prices fell by 1.52 per cent to Rs 10,380 per quintal in futures trade today as speculators trimmed positions, triggered by expectations of higher output.

At the National Commodity and Derivatives Exchange, jeera for delivery in April fell by Rs 160, or 1.52 per cent to Rs 10,380 per quintal with an open interest of 9,996 lots.

The March contract lost Rs 155, or 1.46 per cent to Rs 10,440 per quintal in 984 lots.

Analysts attributed fall in jeera futures to offloading of positions by speculators on hopes a higher output.

Further, sluggish demand in the spot market against increased supply fuelled the downtrend, they said.