Jeera prices drifted further lower by 1.09 per cent to Rs 16,750 per quintal in futures trading today as participants trimmed their positions, taking negative cues from spot market on sluggish domestic as well as export demand.
Furthermore, ample stocks position following increased supplies from the producing belts and reports of good sowing in Gujarat due to favourable weather condition also put pressure on jeera futures.
At the National Commodity and Derivatives Exchange, jeera for delivery in January fell by Rs 185, or 1.09 per cent, to Rs 16,750 per quintal, with an open interest of 4,239 lots.
Likewise, the spice for delivery in March 2017 traded lower by Rs 105, or 0.66 per cent, to Rs 15,925 per quintal in 1,335 lots.
Analysts said offloading of positions by participants amid subdued domestic as well as exports demand in the spot market, kept jeera prices down at futures trade.
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