 "Jeera up 0.7% on pick up in demand")
Jeera prices rose 0.75% to Rs 18,160 per quintal in futures trading on Wednesday as participants raised their bets, tracking a firm trend at spot market on rising domestic as well as exports demand.
Further, tight stocks position following lower supply from the producing belts too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in August contracts rose by Rs 135 or 0.75%, to Rs 18,160 per quintal with an open interest of 273 lots.
Analysts said increasing of positions by traders on the back of pick up in demand in the spot market amid restricted supplies from producing regions mainly led to the rise in jeera prices at futures trade.
Further, tight stocks position following lower supply from the producing belts too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in August contracts rose by Rs 135 or 0.75%, to Rs 18,160 per quintal with an open interest of 273 lots.
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On similar lines, the spice for delivery in September contracts edged higher by Rs 80, or 0.44%, to Rs 18,285 per quintal in 20,802 lots.
Analysts said increasing of positions by traders on the back of pick up in demand in the spot market amid restricted supplies from producing regions mainly led to the rise in jeera prices at futures trade.