Jeera prices went up by a whopping Rs 290, or 1.88 per cent, to Rs 15,680 per quintal in futures trade today, as speculators created huge positions, against poor stocks in the market.
At the National Commodity and Derivatives Exchange counter, jeera for October delivery rose by Rs 290, or 1.88 per cent, to Rs 15,680 per quintal, with an open interest of 681 lots.
Similarly, jeera for August contract delivery gained Rs 265, or 1.78 per cent, to Rs 15,160 per quintal, with a business volume of 13,077 lots.
Analysts attributed the rise in jeera futures prices to pick up in spot demand and restricted arrivals from producing regions.
Besides, hopes of overseas demand may divert towards India as Syria is quoting its product prices at premium, also supported the rise in jeera prices, they said.