Uptick in spot demand lifts jeera futures by 0.58%

Jeera prices rose by Rs 115, or 0.58 per cent to close at Rs 19,775 per quintal in futures market today after participants widened their positions following rising domestic as well as export demand at the spot market.
Moreover, tight supplies from the producing belts in Gujarat too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in September rose by Rs 115, or 0.58 per cent, to close at Rs 19,775 per quintal, with an open interest of 16,554 lots.
Likewise, the spice for delivery in October traded higher by Rs 95, or 0.48 per cent, to end at Rs 19,900 per quintal in 2,946 lots.

Traders said speculative positions built up by participants amid pick up in domestic market as well as export demand, mainly led to the rise in jeera prices in futures trade.