Jeera gains 1.5% on tight supply

Rise in spot demand supports uptrend

Jeera prices gained 1.49% to Rs 15,192.50 per quintal in futures trade today as speculators enlarged positions, tracking a firm spot market trend on pick up in demand amid thin supplies.

At the National Commodity and Derivatives Exchange, jeera for delivery in November gained Rs 222.50, or 1.49%, to Rs 15,192.50 per quintal, with an open interest of 18,603 lots.

November jeera traded higher by Rs 172.50, or 1.19%, to Rs 14,640 per quintal, with an open interest of 1,242 lots.

Marketmen said increased buying by speculators on the back of a rise in demand in the spot market amid shortage of supplies influenced jeera futures.