Jeera futures extend gains by 2.05% on spot demand

Jeera prices spurted another by 2.05 per cent to Rs 19,415 per quintal in futures trade today as participants created fresh positions, driven by upsurge good export demand at the spot market.
Moreover, restricted supplies in the domestic spot market due to reports of lower production estimates in Gujarat too supported the uptrend.
At the National Commodity and Derivatives Exchange, jeera for this month rose by Rs 390, or 2.05 per cent, to Rs 19,415 per quintal with an open interest of 663 lots.
Likewise, the spice for May traded higher by Rs 320, or 1.67 per cent, to Rs 19,510 per quintal in 18,678 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.