Uptick in spot demand lifts jeera futures by 1.59%

Jeera prices rose by Rs 315 to close at Rs 20,085 per quintal in futures trade today after participants widened their positions following rising domestic and export demand.
Further, tight stocks position following lower supply from the producing belts fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in September rose by Rs 315, or 1.59 per cent, to close at Rs 20,085 per quintal with an open interest of 17,547 lots.
Likewise, the spice for delivery in October traded higher by Rs 285 or 1.43 per cent to end at Rs 20,215 per quintal in 4,491 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.