Jeera rises 0.2% on spot demand

Rains in Gujarat, which raised hopes of better sowing in the upcoming season, capped the gains

Jeera prices moved up by 0.21% to Rs 14,637.50 per quintal in futures trade today as participants created speculative positions even as rains in parts of Gujarat raised hopes of better sowing in the upcoming season.

At the National Commodity and Derivatives Exchange, jeera for delivery in September rose by Rs 30, or 0.21%, to Rs 14,637.50 per quintal, with an open interest of 14,310 lots.

October jeera traded higher by Rs 20, or 0.13%, to Rs 15,060 per quintal, with an open interest of 18,453 lots.

Marketmen said jeera futures prices rose on speculative positions built-up by participants, but fresh rains in Gujarat, country's top jeera producer, which raised hopes of better sowing in the upcoming season capped the gains.

Jeera is a winter crop sown from October.