Jeera prices drifted lower by 0.97 per cent to Rs 18,830 per quintal in futures trade today as speculators cut down positions, tracking a weak trend at spot market on easing demand.
Furthermore, ample stocks position following increased supplies from the producing belts too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in July month fell by Rs 185, or 0.97 per cent to Rs 18,830 per quintal with an open interest of 9,114 lots.
Likewise, the spice for delivery in August month contracts declined by Rs 150, or 0.78 per cent, to Rs 18,965 per quintal in 5,949 lots.
Analysts said offloading of positions by participants owing to fall in demand at the spot market against adequate stocks position, mainly weighed on jeera prices at futures trade.
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