Jeera down 1.2% on sluggish spot demand

Jeera prices were down by 1.17% to Rs 18,575 per quintal in futures trading today as participants trimmed their positions, tracking a weak trend at spot market on subdued demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in October month fell by Rs 220, or 1.17% to Rs 18,575 per quintal with an open interest 4,362 lots.

Similarly, the spice for delivery in September contracts declined by Rs 205, or 1.10% to Rs 18,370 per quintal in 19,473 lots.

Analysts said offloading of positions by traders on the back of low demand in the spot market against adequate stocks position on higher supplies from producing regions, mainly pulled down jeera prices at futures trade.