Jeera futures prices dropped by Rs 278, or 1.83 per cent, to Rs 14,921 per 100 kg today on profit taking by speculators, driven by a fall in demand in the spot market.
On the National Commodity and Derivatives Exchange platform, jeera for delivery in August dropped by Rs 278, or 1.83 per cent, to Rs 14,921 per 100 kg, with an open interest of 10,563 lots.
Similarly, the spice for delivery in October plunged by Rs 267, or 1.71 per cent, to Rs 15,380 per 100 kg, with an open interest of 2,283 lots, while September contract also declined by Rs 255, or 1.65 per cent, to Rs 15,177 per 100 kg, with an open interest of 16,350 lots.
Analysts said, apart from profit-taking by speculators, fall in demand at existing higher levels led to a decline in jeera prices at futures trade.