Muted demand drags down jeera futures by 0.70%

Jeera prices declined by 0.70 per cent to Rs 19,900 per quintal in futures trade today as traders cut down their positions amid easing demand at the spot market.
However, losses were squeezed due to lower crop arrival.
At the National Commodity and Derivatives Exchange, jeera for delivery in current month fell by Rs 140, or 0.70 per cent, to Rs 19,900 per quintal with an open interest of 924 lots.
On similar lines, the spice for delivery in August contract traded lower by Rs 135, or 0.68 per cent, to Rs 19,750 per quintal in 14,391 lots.
Analysts said trimming of positions by participants amid subdued demand at the spot market, mainly attributed fall in jeera prices in futures trade.