Jeera futures climb 1.65% on pick-up in demand

Jeera prices went up by 1.65 per cent to Rs 16,605 per quintal in futures trade today as speculators created positions, driven by pick-up in demand from stockists and overseas enquiries.
Besides, tight stock positions following restricted arrivals from the growing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in March rose Rs 270, or 1.65 per cent, to Rs 16,605 per quintal, with an open interest of 11,100 lots.
Likewise, contracts for April were trading higher by Rs 175, or 1.05 per cent, at Rs 16,865 per quintal, as the open interest of contract stood at 1,776 lots.

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