Jeera futures decline 0.94% on higher supply

Jeera prices drifted by 0.94 per cent to Rs 15,780 per quintal in futures trade today as speculators reduced their exposures amid higher supplies from producing regions.

Besides, low demand in the spot market fueled the downtrend.

In futures trading at National Commodity and Derivatives Exchange, jeers for delivery in July month fell Rs 150, or 0.94 per cent to Rs 15,780 per quintal with an open interest of 24,147 lots.

Similarly, the spice for delivery in August traded lower by Rs 135, or 0.83 per cent to Rs 16,060 per quintal in 7,275 lots.

Marketmen said offloading of positions by speculators, triggered by higher supplies due to rising arrivals from producing regions in the physical market against subdued demand, mainly kept pressure on jeera prices at futures trade.