Jeera futures shed 1.23% on higher supplies

Jeera futures prices shed 1.23% to Rs 12,060 per quintal today due to supplies in the spot market amid expectations of bumper production.

At the National Commodity and Derivatives Exchange, the April contract for jeera declined by Rs 150, or 1.23%, to Rs 12,060 per quintal, with an open interest of 15,489 lots.

The May contract lost Rs 152.50, or 1.22%, to Rs 12,375 per quintal in 9,807 lots.

Analysts said supplies in the spot market and expectations of bumper production this year kept pressure on jeera prices at futures trade.