Jeera futures rise 2.43% on high demand

Jeera prices rose Rs 515, or 2.43 per cent, to Rs 21,700 per quintal in futures trading today as participants raised bets, tracking firm trend in spot market on account of rising domestic demand.
Further, tight stocks position following restricted arrivals from the growing regions too fuelled the uptrend.
In futures trading at the National Commodity and Derivatives Exchange, jeera for delivery in January contract rose Rs 515, or 2.43 per cent, to Rs 21,700 per quintal, with an open interest of 12,762 lots.
On similar lines, the contract for March was trading higher at Rs 17,770, up 0.56 per cent, or Rs 100 per quintal, with an open interest at 5,586 lots.

Analysts said the rise in jeera prices was supported by increased buying by retailers and stockists in the spot market amid restricted supplies from producing regions.