Jeera futures climb 2 pc on spot demand

Supported by rising demand in the spot markets, jeera prices flared up by 2 per cent to Rs 13,015 per quintal in futures trading today as speculators enlarged positions.
Besides, tight stocks position in the physical market on limited arrivals from producing belts influenced the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in January next year spurted by Rs 255, or 2 per cent, to Rs 13,015 per quintal with an open interest of 8,808 lots.
Similarly, the spice for delivery in December contracts traded higher by Rs 180, or 1.46 per cent, to Rs 12,550 per quintal in 180 lots.

Analysts attributed the sharp rise in jeera futures to n rising domestic as well as export demand in the spot market amid restricted supplies from producing belts.