Jeera futures rise on spot demand

Buoyed by the rising spot demand, jeera futures prices recovered by Rs 60 to Rs 14,213 per quintal today.

However, hopes of fresh sowing at producing centres, following clear weather conditions, restricted gains. 

At the National Commodity and Derivatives Exchange counter, jeera for delivery in December gained Rs 60, or 0.42 per cent to Rs 14,213 per quintal.

Similarly, the spice for delivery in January inched up by Rs 61, or 0.42 per cent to Rs 14,498 per quintal, while delivery in February was up by Rs 36, or 0.24 per cent to Rs 14,750 per quintal.

"Prices at futures market may fall in coming sessions, as sowing at producing centres is likely to pick up due to favourable weather," said an analyst.

Analysts said pick up in demand in the spot market for the ongoing marriage season led to rise in jeera futures prices but hopes of fresh sowing at producing centres, following clear weather conditions, restricted gains.