Jeera futures gain 2.24% on uptick in demand

Jeera prices rose by 2.24 per cent to Rs 14,810 per quintal in futures trade today as traders created fresh positions, driven by rising demand in the spot market.
Besides, expectations of lower yield from the producing regions and rising export inquiries, supported the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in March rose by Rs 325 or 2.24 per cent to Rs 14,810 per quintal with an open interest of 6,900 lots.
Likewise, the spice for delivery in April contracts traded higher by Rs 315 or 2.17 per cent to Rs 14,835 per quintal in 4,566 lots.

Analysts said fresh positions built up by participants on the back of pick up in demand in the spot market mainly led to the rise in jeera prices in futures trade.