Jeera rises on tight supply, spot demand

Buoyed by the tight supply amid spot demand, jeera continued its upward march for yet another day to trade 0.45 per cent higher at Rs 14,015 per quintal in futures trade today. 

At the National Commodity and Derivatives Exchange counter, jeera for delivery in February gained Rs 64, or 0.45 per cent, to Rs 14,386 per quintal, with an open interest of 15,162 lots.

Similarly, the spice for delivery in January also traded Rs 50, or 0.36 per cent higher at Rs 14,3865 per quintal, with a business turnover of 4,938 lots.

Market analysts said fresh positions created by speculators, supported by tight supplies and depleting stocks in the market, influenced jeera prices at futures trade here.