Jeera futures decline 1.35% on supply pressure
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Jeera prices declined by Rs 205, or 1.35 per cent, to Rs 14,950 per quintal in futures trading today as traders reduced their positions, tracking a weak trend at spot market on supply pressure amid sluggish demand.
At the National Commodity and Derivatives Exchange, jeera for delivery in far- month March drifted by Rs 205, or 1.35 per cent, to Rs 14,950 per quintal with an open interest of 11,037 lots.
Likewise, the spice for delivery in the December contract lost Rs 125, or 0.89 per cent, to Rs 13,982.50 per quintal in 9,441 lots.
Analysts attributed the fall in jeera prices at futures trade to off-loading of positions following increased supply pressure in the spot markets against poor demand. Besides, higher stocks in the exchange warehouses aded to the weakness in the spice at futures trade, they said.
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