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Jeera futures down 2.81% on weak exports demand

Press Trust of India  |  New Delhi 

Jeera prices dropped by 2.81 per cent to Rs 17,120 per quintal in futures trade today as participants trimmed their positions amid a weak trend at the domestic spot markets due to muted demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in far-month June plunged by Rs 495, or 2.81 per cent to Rs 17,120 per quintal with an open interest of 17,250 lots.

On similar lines, the spice for delivery in May contracts lost Rs 475, or 2.73 per cent to Rs 16,910 per quintal in 9,132 lots.

Analysts said offloading of positions by traders, triggered by subdued demand in the spot market against adequate stocks position kept pressure on jeera prices at futures trade.

First Published: Tue, May 03 2016. 11:57 IST