Jeera futures surge on tight supply

Jeera futures traded Rs 77 per cent higher at Rs 14,900 per quintal today on rising demand amid restricted arrivals in the spot market.

At the National Commodity and Derivatives Exchange platform, jeera for January delivery gained Rs 77, or 0.52 per cent to Rs 14,900 per quintal, with an open interest of 14,268 lots.

Similarly, the spice for delivery in December contract moved up by Rs 63, or 0.44 per cent to Rs 14,488 per quintal, with a business turnover of 5,793 lots. 

Analysts said firming trend at the spot markets on rising demand against restricted supplies, led to a rise in jeera futures prices.