Jeera futures slide 2.83% on higher supply

Jeera prices fell sharply 2.83 per cent to Rs 17,335 per quintal in futures trade today as speculators trimmed positions, driven by higher supplies from producing regions.
Besides, weak exports demand fuelled the downtrend.
At National Commodity and Derivatives Exchange, jeera for delivery in July plunged Rs 505, or 2.83 per cent, to Rs 17,335 per quintal with an open interest of 25,188 lots.
Similarly, the spice for delivery in June contracts moved down Rs 475, or 2.71 per cent, to Rs 17,040 per quintal in 10,809 lots.
Analysts said offloading of positions by speculators driven by higher supplies from producing regions and weak exports demand mainly pulled down jeera prices.