Jeera sheds 0.75% on higher supplies

Jeera traded 0.75% lower in futures trading today as speculators trimmed their positions, driven by mounting supplies in the spot market.

Expectations of higher output also put pressure on the jeera prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in March was trading lower by Rs 97.50, or 0.75%, at Rs 12,860 per quintal, with an open interest of 6,315 lots.

The April contract lost Rs 90, or 0.68%, to Rs 13,145 per quintal, with an open interest of 15,438 lots.

Analysts said offloading of positions by speculators following rising arrivals of new season crop in the market, mainly kept pressure on the jeera prices at futures trade here.