Jeera futures fall 2.59% on higher supply, weak export demand

Jeera prices plunged 2.59 per cent to Rs 16,380 per quintal in futures trade today amid higher supplies from producing regions against weak export demand in the spot market.
At National Commodity and Derivatives Exchange, jeera for delivery in June month moved down by Rs 435, or 2.59 per cent to Rs 16,380 per quintal with an open interest of 6,633 lots.
In a similar fashion, the spice for delivery in July contracts traded lower by Rs 395, or 2.31 per cent to Rs 16,735 per quintal in 27,027 lots.
Analysts said offloading of positions by speculators triggered by higher supplies from producing regions and weak exports demand mainly weighed on jeera prices.