Jeera futures down 0.37% on weak export demand

Amid weak exports demand and higher supplies in the spot market from producing belts, jeera prices were down 0.37 per cent to Rs 16,260 per quintal in futures trade today as speculators reduced exposure.
At National Commodity and Derivatives Exchange, jeera for delivery in August fell by Rs 60, or 0.37 per cent to Rs 16,260 per quintal with an open interest of 24,072 lots.
Likewise, the spice for delivery in July contracts traded lower by Rs 55, or 0.34 per cent to Rs 16,150 per quintal in 996 lots.
Analysts said offloading of positions by speculators, triggered by higher supplies from producing belts in the physical market against subdued demand, kept pressure on jeera prices at futures trade.