Jeera prices tumbled Rs 460 to quote at Rs 19,610 per quintal in futures market Wednesday as speculators trimmed positions to book profits at prevailing higher rates amid anticipations of higher production on favourable weather conditions at producing region in Gujarat.
Besides, ample stocks position following higher supplies from the producing regions, fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in October fell Rs 460, or 2.29 per cent, to trade at Rs 19,610 per quintal, with an open interest of 7,506 lots.
Similarly, the spice for delivery in far-month November moved down by Rs 420, or 2.07 per cent, to quote at Rs 19,890 per quintal in 969 lots.
Analysts said besides profit-booking by speculators at existing levels, a fall in demand at the spot market against adequate stocks position, kept pressure on jeera futures.
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