Jeera futures decline on higher supplies

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SummaryJeera prices fell by 1.54 per cent to Rs 14,890 per quintal in futures market.

Jeera prices fell by 1.54 per cent to Rs 14,890 per quintal in futures market today after speculators trimmed positions, triggered by increased supplies in the spot market amid weak overseas demand.

At the National Commodity and Derivatives Exchange, jeera for delivery in November fell sharply by Rs 232.90, or 1.54 per cent, to Rs 14,890 per quintal, with an open interest of 13,035 lots.

Similarly, the spice for delivery in December declined by Rs 232, or 1.50 per cent, to Rs 15,299.50 per quintal, with an open interest of 13,446 lots.

Marketmen said trimming of positions by speculators following increased supplies in the spot markets and weak export demand mainly kept pressure on the jeera prices at

futures trade.

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