Jeera futures rise on tight supply
Jeera futures prices shot up by Rs 300 to Rs 15,650 per quintal today as speculators enlarged their positions, driven by a firming trend at the spot market on local demand.
Restricted arrivals from producing region also boosted market sentiments.
At the National Commodity and Derivatives Exchange, jeera for delivery in September month shot up by Rs 300, or 1.95%, to Rs 15,650 per quintal, with an open interest of 5,175 lots.
Similarly, the spice for delivery in July contract moved up by Rs 273, or 1.87% to Rs 14,900 per quintal, with a business turnover of 12,624 lots.
Analysts said increased buying by speculators on back of some local demand against limited arrivals mainly pushed up jeera futures price.