Muted demand drags down jeera futures by 2.05%

Jeera prices drifted lower by 2.05 per cent to Rs 17,410 per quintal in futures trade today as speculators trimmed their positions amid lower domestic and exports demand at the spot market.
Besides, adequate stocks position on increased supplies from the producing belts too weighed on prices.
At the National Commodity and Derivatives Exchange, jeera for delivery in March dropped by Rs 365, or 2.05 per cent to Rs 17,410 per quintal with an open interest of 5,514 lots.
Similarly, the spice for delivery in April contracts moved down by Rs 290, or 1.66 per cent to Rs 17,225 per quintal in 2,403 lots.

Analysts said offloading of positions by participants owing to sluggish domestic well as exports demand in the spot market against adequate stocks position, mainly pulled down jeera prices at futures trade.