Jeera prices fell by over two per cent in futures trade today as speculators reduced their position, triggered by arrival of new crop and weak export demand.
At the National Commodity and Derivatives Exchange, jeera for delivery in August declined by Rs 335, or 2.09% to Rs 15,710 per quintal, with an open interest of 2,976 lots.
Similarly, the spice for delivery in July fell by Rs 282, or 1.81% to Rs 15,340 per quintal, with a business volume of 18,669 lots. Jeera prices for delivery in June fell by Rs 214, or 1.41% to Rs 14,950 per quintal, with trade volume of 16,620 lots.
Analysts said off-loading of positions by speculators following supply pressure and export demand mainly led to the decline in jeera prices at futures trade.
