Jeera prices tumbled by Rs 248 to Rs 13,360 per quintal in futures trade today as traders reduced their positions on poor demand in the spot market.
Reports of increased sowing in the top producer state -- Gujarat -- due to favourable weather conditions, also put pressure on the jeera prices.
At the National Commodity and Derivatives Exchange, jeera for delivery in December dropped by Rs 248, or 1.82%, to Rs 13,360 per quintal, with an open interest of 9,330 lots.
Similarly, the spice for delivery in January fell by Rs 217, or 1.56%, to Rs 13,690 per quintal, with an open interest of 16,347 lots.
Market analysts said traders offloaded their positions on the back of a weak trend at spot market on poor demand, pulling down jeera prices at futures trade.
