Jeera futures prices surged by Rs 298 to Rs 15,159 per quintal after speculators enlarged their positions on concerns about lower production, following unseasonal rain at producing centres and falling stocks.
At the National Commodity and Derivatives Exchange (NCDEX), jeera for delivery in February rose by Rs 298, or 2.01 per cent, to Rs 15,159 per quintal, with an open interest of 7,533 lots.
Similarly, the spice for delivery in April shot up by Rs 313, or 2 per cent, to Rs 15,954 per quintal, with a trade volume of 2,349 lots.
Market analysts said speculative activity by traders, triggered by lower production concerns following adverse weather at producing belts and depleting stocks in the spot market, supported the upside in jeera futures prices here.
