Jeera rises 1 pc in futures trade on spot demand

Jeera prices were up by 1 per cent to Rs 18,645 per quintal in futures trade today as speculators enlarged positions taking postive cues from spot market.
Besides, tight stocks position in the physical market on limited arrivals from producing belts and some exports enquiries supported the upside.
At the National Commodity and Derivatives Exchange, jeera for delivery in May month rose by Rs 185 or 1 per cent to Rs 18,645 per quintal with an open interest of 20,481 lots.
Similarly, the spice for delivery in June contracts traded higher by Rs 170 or 0.90 per cent to Rs 19,015 per quintal in 8,211 lots.

Analysts said besides rising demand in the spot markets, restricted supplies from producing belts mainly attributed the rise in jeera prices at futures trade.