Jeera futures rebound by 0.89% on spot demand

Jeera prices rebounded by 0.89 per cent to Rs 15,815 per quintal in futures trade today as traders created fresh positions, triggered by a firm trend at spot market on uptick in demand.
Expectations of fall in production also supported the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in April was trading higher by Rs 140, or 0.89 per cent, to Rs 15,815 per quintal, with an open interest of 507 lots.
Similarly, the spice for delivery in far-month May gained Rs 130, or 0.82 per cent, to Rs 15,940 per quintal in 15,114 lots.
Analysts said fresh positions built up by participants due to pick up in domestic and exports demand in the spot market against restricted supplies from producing regions led to the rise in jeera prices at futures trade.