Jeera loses flavour on supply pressure

PTI New Delhi | Updated on May 12, 2011


Jeera prices fell by 0.89 per cent to Rs 14,200 a quintal in futures trade today as speculators reduced their position, triggered by supply pressure.

Subdued export demand also kept pressure on prices. At the National Commodity and Derivatives Exchange, jeera for delivery in May declined by Rs 128 or 0.89 per cent to Rs 14,200 a quintal, with an open interest of 10,836 lots.

Similarly, the spice for delivery in June fell by Rs 128 or 0.86 per cent to Rs 14,840 a quintal with a business volume of 14,830 lots.

Analysts said off-loading of positions by speculators triggered by increased arrivals and subdued overseas demand led to the fall in jeera futures prices.

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Published on May 12, 2011
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