Jeera futures climb 3.93% on tight supply

Jeera prices shot up by 3.93 per cent to Rs 20,090 per quintal in futures trade today as speculators raised their bets, triggered by tight stocks position on restricted supply at the spot market.
At the National Commodity and Derivatives Exchange, jeera for delivery in September surged by Rs 760 or 3.93 per cent to Rs 20,090 per quintal with an open interest of 15,447 lots.
The spice for delivery in August contracts jumped up by Rs 695 or 3.66 per cent to Rs 19,685 per quintal in 10,623 lots.
Analysts said widening of positions by participants, driven by paucity of stocks on restricted supplies from producing belts, mainly led to the rise in jeera prices at futures trade.