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Jeera futures up on spot demand, lower arrivals

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Press Trust of India New Delhi

Jeera prices rose by Rs 119, or 0.85 per cent, to Rs 14,083 per quintal in futures trade today, as speculators built up fresh positions, driven by pick up in demand in the spot market against restricted arrivals.

At the National Commodity and Derivatives Exchange, jeera for July delivery rose by Rs 119, or 0.85 per cent, to Rs 14,083 per quintal, with an open interest of 5,874 lots.

Similarly, jeera for August contract delivery gained Rs 110, or 0.77 per cent, to Rs 14,314 per quintal, with a business volume of 12,291 lots. 

Analysts attributed the rise in jeera futures prices to pick up in spot demand and restricted arrivals from producing regions.

 

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First Published: Jul 15 2010 | 3:39 PM IST

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