Jeera prices drifted further lower by 2.90 per cent to Rs 17,050 per quintal in futures trading today as participants trimmed their positions, taking negative cues from spot market on sluggish domestic as well as export demand.
Besides, expectations of better crop next year fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in December month fell by Rs 510, or 2.90 per cent to Rs 17,050 per quintal with an open interest of 5,316 lots.
Likewise, the spice for delivery in November contracts traded lower by Rs 485, or 2.80 per cent to Rs 16,830 per quintal in 7,422 lots.
Analysts said offloading of positions by traders owing to slackened domestic as well as exports demand in the spot market against adequate stocks position, kept jeera prices down at futures trade.
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