Jeera futures remain weak, down 1.65 pc on low demand

Jeera prices fell further by 1.65 per cent to Rs 17,900 per quintal in futures trade today as speculators engaged in trimming positions to book profits at prevailing levels amid lower domestic and exports demand at the spot market.

Furthermore, huge stocks at the spot markets following higher supplies from the major growing regions in Gujarat and Rajasthan too fuelled the downtrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in July was trading lower by Rs 300, or 1.65 per cent, to Rs 17,900 per quintal with an open interest of 2,172 lots.

Similarly, the spice for delivery in June quoting lower by Rs 260, or 1.44 per cent to Rs 17,795 per quintal in 15,444 lots.

Analysts said trimming of positions by participants on the back of easing domestic well as exports demand at spot market against adequate stocks position, mainly kept jeera prices down at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)