Jeera futures down as speculators reduce positions

Jeera prices fell by 1.96% to Rs 14,695 per quintal in futures trade today as speculators reduced their position. 

At the National Commodity and Derivatives Exchange, jeera for delivery in April declined by Rs 294, or 1.96%, to Rs 14,695 per quintal, with an open interest of 3,942 lots. 

Similarly, the spice for delivery in May fell by Rs 300, or 1.95%, to Rs 15,244 per quintal, with a business volume of 20,019 lots.  

Analysts said off-loading of positions by speculators mainly kept pressure on the jeera futures prices. However, estimates of lower output and depleting stocks limited the losses.