Jeera weakens 0.35% on increased supply

Lower demand, improved rains influence prices

Jeera prices weakened 0.35% to Rs 14,135 per quintal in futures trade today on increased supplies in the spot market against subdued demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in November declined by Rs 50, or 0.35%, to Rs 14,135 per quintal, with an open interest of 7,851 lots.

October jeera shed Rs 20, or 0.14%, to Rs 13,840 per quintal in 25,647 lots.

Marketmen said increased supplies following higher arrivals from producing regions against lower demand and improved rains in the top producing state Gujarat kept pressure on jeera futures.