Jeera futures down 1.03% on adequate stocks

Jeera prices drifted lower by 1.03 per cent to Rs 19,665 per quintal in futures trade today as speculators reduced their exposure, triggered by ample stocks position on higher supplies from producing regions at spot market.
At the National Commodity and Derivatives Exchange, jeera for delivery in September month fell by Rs 205, or 1.03 per cent to Rs 19,665 per quintal with an open interest of 7,746 lots.
Analysts said offloading of positions by participants on the back of sufficient stocks position on increased arrivals from growing regions in the physical market against subdued demand, mainly weighed on jeera prices at futures trade.