Jeera rises on tight supply, exports demand

Jeera futures today rose by Rs 39 to Rs 13,844 per 100 kg, as speculators engaged in creating speculative positions, driven by tight supplies against pick up in overseas demand.

At the National Commodity and Derivatives Exchange (NCDEX) counter, jeera contract for October traded Rs 39, or 0.28 per cent higher, to Rs 13,844 per 100 kg, with an open interest of 14,106 lots.

It ended 0.03 per cent lower to Rs 13,805 per 100 kg in the previous session.

In a similar fashion, the November contract moved up by Rs 30, or 0.22 per cent, to Rs 13,950 per 100 kg, with an open interest of 9,705 lots.

Analysts said tight stocks in the spot markets following poor supplies and exports demand, mainly led to a rise in jeera futures but an expected rise in acreage in the top producing state of Gujarat, limited gains.