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Weak export demand pulled down jeera futures on Thursday by 1.8 per cent.
Jeera for September delivery decreased by Rs 285, or 1.8 per cent, to Rs 15,550 a quintal on the National Commodity and Derivatives Exchange, with an open interest of 17,328 lots.
October contract of jeera declined by Rs 269 to Rs 16,001 a quintal, with an open interest of 16,995 lots.
Stocks in NCDEX-accredited warehouses gained 35 tonnes at 11,444 tonnes.
Spot jeera dropped by Rs 1.80 to end at Rs 15,673.55 a quintal in Unjha.
Export hopes
Expected rise in exports and falling arrivals are likely to shore up prices in the medium term while the market could remain volatile in the short term, a report from Kedia Commodity said.
A strong dollar could also support exports, the report added.
Traders said hopes of a recovery in export demand because of supply disruptions in producing countries restricted losses.
Festival demand and rains in major growing regions may support prices in the near term, they said.
Better quality and higher stocks could shift the Gulf demand to India ahead of Ramzan .
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