Jeera futures climb 1.89% on pick-up in demand

Jeera prices went up by 1.89 per cent to Rs 18,725 per quintal in futures trade today as speculators created fresh positions, driven by pick-up in demand from stockists and overseas enquiries.

Besides, tight stock positions following restricted arrivals from the growing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, jeera for delivery in July rose Rs 355, or 1.89 per cent, to trade at Rs 18,725 per quintal with an open interest of 3,552 lots.

Likewise, the contract for August was trading higher by Rs 315, or 1.71 per cent, at Rs 18,790 per quintal as the open interest of contract stood at 3,573 lots.

Traders said speculative positions built up by participants amid rising domestic as well as export demand led to the rise in jeera prices.