Jeera weakens by 0.63% on higher output hopes

Higher output expectations led to the downtrend

Jeera futures declined by Rs 92.50 to Rs 14,555 per quintal today.

At the National Commodity and Derivatives Exchange, the March contract declined by Rs 92.50, or 0.63% to Rs 14,555 per quintal in 14,898 lots.

The April contract too went down 0.63% to Rs 14,600 per quintal in 3,510 lots.

Analysts said, off-loading of positions by speculators on hopes of higher output due to favourable weather in producing states put pressure on jeera futures.