Jeera futures gain 1.19 pc on uptick in demand

Jeera prices were up by 1.19 per cent to Rs 16,585 per quintal in futures trade today as speculators built up fresh positions, driven by pick up in demand at the spot market.
Further, tight stocks position amind fall in supplies from producing regions fuelled the uptrend.
At National Commodity and Derivatives Exchange, jeera for delivery in October rose Rs 195 or 1.19 per cent to Rs 16,585 per quintal with an open interest of 717 lots.
Similarly, the spice for delivery in November contracts traded higher by Rs 120 or 0.72 per cent to Rs 16,775 per quintal in 12,489 lots.

Analysts said speculative positions built up by participants on the back of uptick in domestic as well as export demand in the spot market, mainly influenced jeera prices at futures trade.