Jeera prices up by 1% on rise in demand

Jeera prices rose 0.96% to Rs 14,260 per quintal in futures trading today as participants built up fresh positions, driven by pick up in domestic as well as export demand in the spot market.

Besides, tight stocks on restricted supplies from producing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in January 2016 rose by Rs 135, or 0.96% to Rs 14,260 per quintal with an open interest of 8,613 lots.

Similarly, the spice for delivery in March contracts gained Rs 110, or 0.78% to Rs 14,275 per quintal in 3,399 lots.

Analysts attributed the rise in jeera futures prices to fresh positions built up by traders amid pick up domestic as well as export demand in the spot market.