Jeera down 1% on sluggish demand

Tracking a weak trend at the spot markets on sluggish demand, jeera prices declined by 1% to Rs 13,870 per quintal in futures trading today as speculators lightened their positions.

At the National Commodity and Derivatives Exchange, jeera for delivery in January fell by Rs 140, or 1% to Rs 13,870 per quintal with an open interest of 4998 lots.

Likewise, the spice for delivery in far-month March traded lower by Rs 105, or 0.73% to Rs 14,190 per quintal in 5,043 lots.

Analysts said offloading of positions by participants, driven by sluggish demand in the spot market against sufficient stocks on higher supplies from producing regions, led to the fall in jeera prices at the futures trade.