Jeera futures down 0.88% on decline in demand

Amid fall in demand in the spot market and surge in supplies from producing regions, jeera prices were down by 0.88% to Rs 16,275 per quintal in futures trade today as speculators reduced their exposure.

At the National Commodity and Derivatives Exchange, jeera for delivery in October fell Rs 145, or 0.88%, to Rs 16,275 per quintal, with an open interest of 75 lots.

Likewise, the spice for delivery in September shed Rs 15, or 0.09%, to Rs 16,630 per quintal in 16,563 lots.

Analysts said offloading of positions by participants owing to slackened demand in the spot market against sufficient stocks position on higher supplies from producing belts, mainly led to decline in jeera prices at futures trade.