Jeera prices rose further by Rs 435 to Rs 18,340 per quintal in futures market today after participants widened their positions, backed by rising domestic as well as export demand amid restricted supplies in the domestic spot market.
Moreover, reports of lower production estimates in the producing belts of Gujarat too supported the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in April spurted by Rs 435, or 2.43 per cent, to Rs 18,340 per quintal, with an open interest of 10,578 lots.
Likewise, the spice for May delivery traded higher by Rs 390, or 2.15 per cent, to Rs 18,525 per quintal in 5,556 lots.
Traders said speculative positions built up by participants amid pick up in domestic as well as export demand against restricted supplies on reports of lower production estimates, mainly led to the rise in jeera prices at futures trade.
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