Jeera extends rising streak on spot demand, up 1.19%

Continuing its upward journey, jeera futures traded 1.19 per cent higher at Rs 16,580 per quintal today as traders engaged in widening their positions, tracking a firm trend at spot market on rising demand.
Besides, tight stocks position in the physical market following restricted supplies from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in October spurted Rs 195, or 1.19 per cent, to Rs 16,580 per quintal, with an open interest of 240 lots.
Likewise, the spice for delivery in November was up by Rs 155, or 0.92 per cent, to Rs 16,995 per quintal in 17,112 lots.

Analysts attributed the rise in jeera futures prices to upsurge in demand in the spot market against restricted supplies from growing belts.