Jeera futures edge higher 3.44 pc on rising demand

Jeera prices spurted by Rs 600 to Rs 18,040 per quintal in futures market today after participants widened their positions backed by rising domestic as well as export demand amid restricted supplies in the domestic spot market.
Moreover, reports of lower production estimates in the producing belts of Gujarat too supported the uptrend.
At the National Commodity and Derivatives Exchange, jeera for May spurted by Rs 600, or 3.44 per cent, to Rs 18,040 per quintal with an open interest of 4,314 lots.
Likewise, the spice for April delivery traded higher by Rs 580, or 3.37 per cent, to Rs 17,800 per quintal in 10,143 lots.

Traders said, speculative positions built up by participants amid pick-up in domestic as well as export demand against restricted supplies on reports of lower production estimates, mainly led to the rise in jeera prices at futures trade.