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Lower domestic and export demand pulled down spot jeera by Rs 15-20 and jeera futures by more than Rs 140 a quintal.
In Rajkot, jeera was traded at Rs 1,800-2,700 for 20 kg, down Rs 20, and 400-500 bags arrived at the agricultural produce marketing committee (APMC) here. In Unjha, jeera was quoted at Rs 1,935-3,200, down Rs 15-20 for 20 kg. The APMC here received 5,000-5,500 bags.
On the National Commodity and Derivatives Exchange, jeera for delivery in June declined by Rs 158, or 1.16 per cent, to Rs 13,351 a quintal, with an open interest of 3,966 lots. July jeera decreased by Rs 141 to Rs 13,820 a quintal with an open interest of 21,558, and August contract fell Rs 147 to Rs 14,198 with an open interest of 11,868 lots.
Market analysts said weak domestic and export demand mainly led to the decline in jeera futures.
Jeera exports from India dropped by 35 per cent to 49,250 tonnes during 2010-11 fiscal.
Reports of adverse weather in other major producers such as Turkey and Syria have created concerns of lower output there and a possibility of delayed arrivals, which were originally scheduled from June-end onwards. Syrian production is projected at 40,000 tonnes and Turkey's lower at 12,000-15,000 tonnes. Indian production is likely to be at 28-30 lakh bags or more than 1.5 lakh tonnes.
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