Jeera up over 2% on tight supply

Slow progress of monsoon affected production, taking prices higher

Jeera futures traded over 2% higher at Rs 292.50 per quintal today after speculators built-up positions amid a slow progress of monsoon in growing regions.

Besides, reduced domestic supplies in the physical markets and some export enquiries supported the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in July rose by Rs 292.50, or 2.01%, to Rs 14,850 per quintal, with an open interest of 1,494 lots.

Likewise, the spice for delivery in August traded higher by Rs 299, or 2%, to Rs 15,261.50 per quintal, with an open interest of 20,580 lots.