Jeera futures climb 2.70 pc on spot demand

Jeera prices spurted by 2.70 per cent to close at Rs 19,425 per quintal in futures trade today as participants created fresh positions, driven by upsurge in demand in the spot market.
Moreover, restricted supplies in the domestic spot markets following reports of lower output estimates in Gujarat supported the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in May rose by Rs 510, or 2.70 per cent, to close at Rs 19,425 per quintal with an open interest of 16,095 lots.
Likewise, the spice for June traded higher by Rs 500, or 2.62 per cent, to end at Rs 19,585 per quintal in 3,897 lots.

Traders said speculative positions built up by participants amid pick-up in domestic as well as export demand, mainly led to the rise in jeera prices at futures trade.