New Delhi (PTI): Jeera futures declined by 0.29 per cent in early trade on the National Commodity and Derivatives Exchange (NCDEX) on Thursday as traders indulged in reducing their positions due to subdued export demand following better overseas crop this season.

However, less buying helped restricting losses to some extent.

At 1130 hrs, jeera for the most active July month contract was trading 0.29 per cent down at Rs 10,632 per quintal with an open interest in 6,339 lots.

Similarly, the spiece for delivery in August month contract moved down by 0.29 per cent to Rs 10,773 per quintal with an open interest of 4,881 lots, while delivery in September month contract lost 0.61 per cent at Rs 10,900 per quintal, having an open interest in 51 lots.

Market analysts said waning export demand following a healthy global crop this season mainly weighing on the spice prices at futures market here.

Meanwhile, a healthy crop from Syria, a leading global producer, started arriving in the international markets.