Jeera futures climb 1.61% on rise in demand, tight supply

Jeera prices surged 1.61 per cent to Rs 18,610 per quintal in futures trade today as traders enlarged positions, driven by rising demand in spot market.
Besides, tight stocks position on restricted supplies from producing regions and some exports enquiries fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in July month shot up by Rs 295, or 1.61 per cent to Rs 18,610 per quintal with an open interest of 1,209 lots.
Likewise, the spice for delivery in August contracts traded higher by Rs 240, or 1.28 per cent to Rs 19,030 per quintal in 22,419 lots.

Analysts said widening of positions by participants on the back of upsurge in demand in the spot market against restricted supplies from producing belts, mainly led to rise in jeera prices at futures trade.