Jeera futures remain weak, down 1.96% on low demand

Jeera prices fell further by 1.96 per cent to Rs 15,220 per quintal in futures trade today as speculators trimmed positions to book profits at prevailing levels amid lower domestic and exports demand in the spot market.
Furthermore, anticipation of higher production this season on reports of higher acreage of jeera in Gujarat during the current season too fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in March contracts was trading lower by Rs 305, or 1.96 per cent, to Rs 15,220 per quintal with an open interest of 10,554 lots.
Similarly, the spice for delivery in April contracts quoted lower by Rs 165, or 1.05 per cent, at Rs 15,525 per quintal in 2,292 lots.

Analysts said trimming of positions by participants on back of easing domestic as well as exports demand in the spot market against adequate stocks position kept jeera futures down.