Jeera futures gain 0.48% on rising spot demand

Jeera futures traded 0.48 per cent higher at Rs 17,820 per quintal today as speculators took to creating fresh positions, supported by rising demand in the spot market.
In futures trading at the National Commodity and Derivatives Exchange, jeera for delivery in July moved up by Rs 85, or 0.48 per cent, to Rs 17,820 per quintal with an open interest of 17,442 lots.
Likewise, the spice for delivery in June contracts edged up by Rs 70, or 0.40 per cent, to Rs 17,475 per quintal in 18,363 lots.
Analysts attributed the rise in jeera futures to rising demand in the spot market against restricted supplies from producing belts.