Jeera futures down 1.03 pc on higher output hopes

NEW DELHI: Jeera prices moved down by 1.03 per cent to Rs 13,245 per quintal in futures trade today as speculators reduced their positions, triggered by expectations of higher output this season.

At the National Commodity and Derivatives Exchange, jeera for delivery in March moved down by Rs 137.50, or 1.03 per cent to Rs 13,245 per quintal, with an open interest of 646 lots.

In a similar fashion, the spice for delivery in April lost Rs 87.50, or 0.65 per cent, to Rs 13,330 per quintal in 11,334 lots.

Market analysts attributed the fall in jeera futures to offloading of positions by speculators on expectations of higher output this season.