Jeera futures up on weak supply, output concerns

Jeera futures prices surged by 1.48 per cent to Rs 16,759 per quintal after speculators enlarged their positions on concerns about lower output and unseasonal rain at producing centres.    

At the National Commodity and Derivatives Exchange, jeera for delivery in April rose by Rs 244, or 1.48 per cent, to Rs 16,759 per quintal, with an open interest of 14,766 lots. 

Similarly, the spice for delivery in March shot up by Rs 235, or 1.46 per cent, to Rs 16,315 per quintal, with a trade volume of 14,046 lots.

Market analysts said speculative activity by traders, buoyed by lower production following adverse weather conditions at producing belts had delayed crop's sowing and weak supplies at the spot market mainly influenced jeera futures prices.