Jeera futures climb 1.52 pc on pick-up in demand

Jeera prices spurted by Rs 285 or 1.52 per cent to close at Rs 19,050 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.
Furthermore, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in current month rose by Rs 285, or 1.52 per cent, to close at Rs 19,050 per quintal with an open interest of 4,080 lots.
Likewise, the contract for November delivery was trading higher by Rs 90, or 0.48 per cent, to trade at Rs 19,970 per quintal, the open interest of contract stood at 9,951 lots.

Traders said speculative positions built up by participants amid rising domestic as well as export demand, mainly led to the rise in jeera prices at futures trade.