Jeera futures down 0.93% on increased supply, subdued demand

NEW DELHI: Jeera prices fell by 0.93 per cent to Rs 13,010 per quintal in futures market today largely due to higher supplies in the spot market against subdued local as well as export demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in June fell by Rs 122.50, or 0.93 per cent to Rs 13,010 per quintal with an open interest of 543 lots.

In a similar fashion, the spice for delivery in July lost Rs 120, or 0.90 per cent to Rs 13,197.50 per quintal in 16,905 lots.

Market analysts attributed the fall of Jeera futures to increased supplies in the spot market amid subdued local and overseas demand. Profit-booking by speculators also weighed on the prices of Jeera, they said.