Jeera futures climb 3.81% on pick up in demand

Jeera prices spurted by 3.81 per cent to close at Rs 19,915 per quintal in futures trade today as participants 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 too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery this month spurted by Rs 730, or 3.81 per cent, to close at Rs 19,915 per quintal, with an open interest of 1,404 lots.
Likewise, the contract for August delivery was higher by Rs 720, or 3.77 per cent to end at Rs 19,825 per quintal, with an open interest of 13,866 lots.

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