Jeera futures climb Rs 260 on rise in demand

Jeera prices went up by Rs 260 to Rs 21,785 per quintal in futures trade today as speculators 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 fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in December rose by Rs 260, or 1.20 per cent, to Rs 21,785 per quintal with an open interest of 13,749 lots.
Likewise, the contract for January was trading higher by Rs 155, or 0.76 per cent, to trade at Rs 20,660 per quintal, with the open interest of contract at 2,163 lots.

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