Jeera shed 0.50% on sluggish demand

Falling supplies limited the decline

Jeera prices declined by Rs 50 to Rs 13,000 per quintal in futures trade today owing to slackened demand in the spot market.

At the National Commodity and Derivatives Exchange, jeera for delivery in June declined by Rs 50, or 0.38%, to Rs 13,000 per quintal with an open interest of 420 lots.

The July contract lost Rs 35, or 0.26%, to Rs 13,185 per quintal in 14,946 lots.

Analysts attributed to the decline in jeera futures to sluggish demand in the spot market, but fall in domestic supplies limited the losses.

Meanwhile, daily arrivals at Unjha dropped to about 5,000 to 6,000 bags of 60 kg each from 7,000 to 9,000 bags in the previous week.