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Jeera rises in futures trade on high demand, lower sowing

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:37 AM IST

Supported by reports of a likely fall in jeera production due to unseasonal rains,jeera futures today traded Rs 149 higher at Rs 14,990 per quintal.

Firming demand at the domestic spot markets also influenced the jeera futures prices.

At the National Commodity and Derivatives Exchange counter, jeera for delivery in February traded Rs 149 or one per cent higher at Rs 14,990 per quintal, with an open interest of 13,557 lots.

Similarly, the spice for delivery in March contract moved up by Rs 182 or 1.21 per cent to Rs 15,200 per quintal, with a business turnover of 777 lots.

Analysts attributed the rise in jeera prices at futures market to depleting stocks in the markets and the reports of lower sowing as untimely rains hit Gujarat, the country's biggest producer.

Meanwhile, at Unjha spot market, jeera gained by Rs 145.50 to Rs 14,412.50 per 100 kg.

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First Published: Dec 28 2010 | 2:07 PM IST

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