Jeera futures prices fell sharply by 1.34% to Rs 15,260 per quintal today on higher supply pressure against slackened demand at the spot markets.
India's jeera futures hit a fresh contract low on Monday due to arrival pressure combined with higher supplies and sluggish demand in the spot markets, analysts said.
At the National Commodity and Derivatives Exchange, jeera for delivery in May fell by Rs 207, or 1.34% to Rs 15,260 per quintal, with an open interest for 20,157 lots.
Similarly, the spice for delivery in April declined by Rs 179, or 1.20% to Rs 14,721 per quintal, with an open interest for 13,497 lots.