Jeera futures fall on hopes of better sowing

NEW DELHI: Jeera prices fell by 0.35 per cent to Rs 14,375 per quintal in futures market today after speculators trimmed positions, tracking a weak trend in the spot markets on higher supplies and subdued overseas demand.

Besides, a pick-up in sowing operations also put pressure on the spice's futures prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in November softened by Rs 50, or 0.35 per cent, to Rs 14,375 per quintal, with an open interest of 11,784 lots.

Similarly, the spice for delivery in December declined by Rs 32.50, or 0.22 per cent, to Rs 14,822.50 per quintal, with an open interest of 13,872 lots.

Marketmen said off-loading of positions by speculators largely due to a weak trend at the spot markets on higher supplies and weak export demand led to a fall in jeera prices at futures trade here.