Jeera futures up on spot demand

Jeera prices rose by Rs 78 to Rs 15,109 per quintal in futures trade today as traders created fresh positions, driven by pick-up in spot market demand amid restricted arrivals from producing region.

At the National Commodity and Derivatives Exchange, jeera for September delivery rose by Rs 78, or 0.52%, to Rs 15,109 per quintal, with an open interest of 18,543 lots.   

Similarly, the spice for August delivery moved up by Rs 45, or 0.31%, to Rs 14,650 per quintal, with an open interest of 10,338 lots.

Analysts said fresh buying by traders after pick-up in spot market demand amid decline in arrivals mainly led to rise in jeera prices at futures trade.