Jeera weaken on subdued demand

Jeera prices declined by Rs 57.50 to Rs 13,425 per quintal in futures trade today as speculators reduced their positions, tracking a weak spot market trend on subdued demand.

However, fall in supplies and some export demand capped the losses.

At the National Commodity and Derivatives Exchange, jeera for delivery in July declined by Rs 57.50, or 0.43%, to Rs 13,425 per quintal, with an open interest of 12,345 lots.

The June contract shed Rs 55, or 0.42%, to Rs 13,050 per quintal, with an open interest of 15,057 lots.

Analysts said offloading of positions by speculators on the back of sluggish demand in the spot market mainly led to a decline in jeera futures prices.