Jeera rises 1.84% on spot demand, delay in sowing

Buoyed by a firm spot demand and delay in sowing, jeera futures prices moved up by 1.84 per cent to Rs 14,502 per quintal.  

Tight stocks following poor supplies at spot markets also supported the upside in jeera prices at futures market here.

At the National Commodity and Derivatives Exchange, jeera for February month moved up by Rs 262, or 1.84 per cent to Rs 14,502 per quintal with an open interest of 207 lots.

Similarly, the spice for delivery in November traded Rs 130, or 0.99 per cent higher at Rs 13,601 per quintal in an open interest of 3,150 lots.

Analysts said pick up in demand in the spot market against tight stocks following restricted arrivals influenced jeera futures prices.

Further, delay in sowing operations due to adverse weather conditions too supported the upside, they said.