Jeera futures decline on subdued export demand

Jeera prices declined by Rs 69 to Rs 14,696 per quintal in futures trade today on reduced offtake by speculators owing to sluggish exports demand.

At the National Commodity and Derivatives Exchange platform, jeera for January-month declined by Rs 69, or 0.47 per cent to Rs 14,696 per quintal, with an open interest of 14,112 lots.

Similarly, the spice for delivery in December-month lost Rs 65, or 0.45 per cent to Rs 14,309 per quintal, with an open interest of 6,549 lots. 

Analysts said sluggish exports demand against adequate stocks in the physical markets mainly led to a decline in jeera futures prices.