Jeera up 1.03% on spot demand

Jeera prices rose by Rs 142.50 to Rs 13,13,982.50 quintal in futures trade today as traders created fresh positions buoyed by pick-up in spot demand.

However, estimates of higher output this season restricted the gains.

At the National Commodity and Derivatives Exchange, the March contract for jeera moved up by Rs 142.50, or 1.03%, to Rs 13,982.50 per quintal with an open interest of 11,475 lots.

The April contract traded higher by Rs 110, or 0.78%, to Rs 14,240 per quintal in 11,490 lots.

Analysts said fresh buying by traders on expectations of a rise in demand during the ongoing marriage season mainly pushed up jeera futures prices.