Jeera up 0.85% in futures trade on poor stocks, spot demand

Jeera prices moved up by Rs 120, or 0.85 per cent, to Rs 14,170 per quintal in futures trade today, as speculators and traders enlarged their speculative positions, driven by poor stocks.

At the National Commodity and Derivatives Exchange counter, jeera for September delivery moved up by Rs 120, or 0.85 per cent, to Rs 14,170 per quintal, with an open interest of 9,018 lots.

Similarly, the spice for delivery in October gained Rs 118, or 0.83 per cent, to Rs 14,330 per quintal, with an open interest of 14,331 lots.

Analysts said apart from tight stocks position, firm spot demand and overseas enquiries also supported the rise in jeera at futures trade.