Jeera futures decline 0.22% on higher output concerns

NEW DELHI: Jeera prices declined by 0.22 per cent to Rs 13,420 per quintal in futures trading today as traders reduced their positions on expectations of higher output.

Besides, subdued demand in spot markets and producing regions also weighed on the prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in far-month April drifted by Rs 30, or 0.22 per cent, to Rs 13,420 per quintal with an open interest of 5,364 lots.

Likewise, the spice for delivery in the March contract lost Rs 27.50, or 0.21 per cent, to Rs 13,350 per quintal in 11,928 lots.

Analysts attributed the fall in jeera prices at futures trade to off-loading of positions, triggered by hopes of higher production and subdued demand in the spot markets amid a weak trend at producing centres.

Meanwhile, jeera prices fell by Rs 102.50 to Rs 13,992.30 per 100 kg in yesterday's trade at Unjha, a key market in Gujarat.