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Jeera futures strengthen on tight stocks, spot demand

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Press Trust of India New Delhi

Jeera traded Rs 192, or 1.47 per cent higher, at Rs 13,920 per quintal in futures trade due to limited supplies in the domestic market.

Pick up in demand in the spot market also influenced the jeera futures prices but estimates of higher production capped gains.

At the National Commodity and Derivative Exchange, jeera for delivery in August contract shot up by Rs 192, or 1.47 per cent, to Rs 13,290 per quintal, with an open interest of 10,869 lots.

Similarly, the spice for delivery in July contract rose by Rs 186, or 1.45 per cent, to Rs 13,017 per quintal, with an open interest of 8,628 lots.

 

Analysts said dwindling stocks in the spot market followed by weak arrivals from the producing belts, influenced the jeera futures prices but hopes of higher production limited gains.

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First Published: Jun 28 2010 | 2:39 PM IST

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